Indian markets witnessed a near blow-out move underpinned by stellar corporate earnings amid fading global uncertainties with the benchmark Nifty storming of the crucial psychological 8,800-mark.
Extending its strong rallying momentum for the fourth straight day, the broader 50-share Nifty shot-up by hefty 93.95 points, or 1.08 per cent, to conclude at 8,805.50 - its highest level in two week.
Spectacular performance on earnings front from frontline heavyweight SBI and Mahindra & Mahindra and expectations of market-oriented reforms in upcoming fiscal budget predominantly weighed in.
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Buoyant global sentiment in the backdrop of easing geopolitical tensions between Russia and the West after the cease-fire agreement and upbeat fourth-quarter German economic growth data also lifted sentiment.
After a firm start to trade, the key indices maintained its surge with gains building throughout the session.
Meanwhile, industrial production growth slipped to 1.7 per cent in December month-on-month, while inflation rose to 5.11 per cent in January, according to data released by the CSO late yesterday.
On the sectoral front, FMCG recovered sharply by an impressive 1.85 per cent rise followed by Healtcare 1.65 per cent, Banking 1.26 per cent, Auto 1.21 per cent, Metal 1 per cent. Infra and Technology along with Mid-cap and Small-cap too gained smartly.
State-run banking behemoth SBI topped the gainers list after posting a stellar set of earnings in the third quarter, surging nearly 8 per cent.
Other biggest movers included TCS, ITC, ICICI Bank, M&M, HDFC, Lupin, Reliance, Sun Pharma, Wipro, L&T, Ultracemco, Maruti, Tata Motors, Heromotoco, Coal India, BPCL, Kotak Bank, Ambuja Cement, Axis Bank, HUL, Cipla and Power Grid Corp.
Among the key laggards were HDFC Bank, ONGC, Infosys, Gail, BHEL, TechM and DLF.
Turnover in the cash segment spiked to Rs 21,000.88 crore from Rs 19,525.34 crore yesterday. A total of 9,875.8 lakh shares changed hands in 80,21,330 trades. The market capitalisation at NSE stood at Rs 101,26,529 crore.
