Nifty soars 83 points; reclaims 8k-level on dovish Fed stance

NSE benchmark Nifty today surged 83 points and reclaimed the psychological 8,100 mark - its highest level in more than two-weeks -- as investors cheered US Fed's dovish comments on interest rates.
Above normal progress in monsoon alongwith macroeconomic improvement too bolstered market sentiment, extending its rally for the fifth straight session.
After a strong start following across-the-board buying spree, bourses maintained its momentum throughout the day and managed to consolidated most of its gains till the end session.
The US Federal Reserve reiterated its intention to keep interest rates at record lows and also slashed growth forecasts citing signs of cyclical weakness in the economy.

Meanwhile, other Asian equities witnessed tremendous sell-off spooked by mounting concerns over a potential Greek default even as Federal Reserve's dovish stance on interest rates failed to enthuse sentiment.
European stocks were trading substantially weak.

The 50-share barometer shot-up by a whopping 83.05 points or 1.03 per cent to end at 8,174.60 after conquering intra-day high of 8,186.90.
Among the sectoral indices, energy topped among the peers, rallying by a hefty 3.13 per cent, followed by pharma (1.80 pc) and auto (1.24 pc). The mid-cap and small-cap also gained 0.77 and 1.22 per cent, respectively.
However, profit-taking was seen in metal, realty, media and FMCG.

On the gainers side, energy major RIL contributed the most by surging 5.13 per cent, followed by ONGC, HDFC Bank, Tata Motors, HDFC, Lupin, ONGC, Idea, Infosys, Sun Pharma, ICICI Bank, SBI, TCS, Asian Paints, Bosch, Maruti, Wipro, BPCL, Kotak Bank, L&T, Bharti and ITC.
Notable losers were Tech Mahindra, ZEE, Cipla, Coal India, Bank of Baroda, Tata Steel and NTPC.
Turnover in the cash segment declined to Rs 15,262.45 crore from Rs 16,104.59 crore yesterday.
A total of 7,091 lakh shares changed hands in 71,09,783 trades and the total market capitalisation of NSE stood at Rs 96,50,643 crore.