Nifty ends above 8,300-level; banks, realty stocks surge

The benchmark NSE rallied for seventh consecutive session to reclaim the crucial 8,300-level to finish at 8,353.10 amid heavy buying in rate sensitive stocks of banking and realty counters, kindled by hopes of interest rate cut by RBI, driven by good monsoon.
Sentiments were also lifted by renewed expectation of a Greek deal following its Prime Minister bidding new proposals to Eurozone creditors to prevent default and exit.
The market traded positive as across the board buying was witnessed with key indices zooming 144.50 points to 8,369.45 during intra-day, led by firm buying in frontline shares of realty, banking and financials, PSU banks, IT, FMCG, metal and auto counters.

Globally, Asian markets closed higher and European stocks surged on optimism over Greek negotiations.
The 50-share barometer rallied 8,369.45 before settling at 8,353.10, showing a sharp gain of 128.15 points, or 1.56 per cent, over its previous close.
Sectorwise, realty spurted by 5.44 per cent, followed by financials (2.64 per cent), PSU banks (2.56 per cent), and banking (2.54 per cent), IT (1.66 per cent), FMCG (1.59 per cent), metal (1.23 per cent) and auto (1.15 per cent).
Stockwise, top five gainers were Axis Bank (3.73 per cent), Yes Bank (3.55 per cent), ICICI Bank (3.45 per cent), PNB (3.18 per cent) and Tata Power (3.04 per cent).

Turnover in the cash segment stood at Rs 14,217.69 crore, while a total of 8,373.12 lakh shares changed hands in 71,86,868 trades and the total market capitalisation of NSE stood at Rs 98,34,796 crore.