Equities staged a smart rebound on emergence of value buying across-the-board with the benchmark Nifty surging by 50 points on the NSE here, even as Greece uncertainty remained firmly in the spotlight for investors.
Financial markets across Asia witnessed a relief rally after a massive sell-off in global markets overnight spooked by heightened concerns over Greece as well as fears over a potential exit from the Eurozone.
Despite a strong start, bourses encountered heavy profit-taking in late morning trade and high volatility amid investors' caution. It mostly traded in a tight range before regaining the strong momentum in late trade following good account of buying in frontline blue chip counters supported by short-covering.
The 50-share barometer jumped by 50.10 points, or 0.60 per cent, to finish at 8,368.50. It fluctuated widely between a high of 8,378.00 and a low of 8,298.95 in early trade.
Barring technology, all sectoral indices witnessed strong buying after clocking heavy losses over the previous session.
Media topped its peers, surging over 2.71 per cent, followed by healthcare (2.40 per cent), fmcg (2.12 per cent), metal (1.95 per cent), auto (1.25 per cent).
Mid-cap and small-cap rallied 1.16 and 1.10 per cent, respectively outperforming the benchmark.
Biggest index contributors included ITC, Sun Pharma, Idea, HDFC Bank, HDFC, Reliance, Tata Motors, Lupin, HUL, Zee, SBI, Ultracemco, Asian Paints, Coal India, Kotak Bank, Bharti Artel, Indusind Bank, Tata Steel, Dr Reddys and Grasim.
Key losers were TCS, ICICI Bank, Infosys, L&T, Axis Bank, HCL-Tech, Wipro, TechM, Bajaj Auto, NTPC and Heromotoco.
Turnover in the cash segment shot-up to Rs 17,267.45 crore against Rs 13,879.30 crore yesterday.
A total of 8,201.02 lakh shares changed hands in 73,57,094 trades and the total market capitalisation of NSE stood at Rs 98,49,076 crore.
