Equities ended on a strong note for the second consecutive session on the back of frantic buying across sectors, with benchmark Nifty reclaiming the significant 8,200-mark amid fading Brexit fears.
Expectations of bold reform measures to address slowdown in economy, including the passage of GST Bill in the monsoon session of Parliament, which commences on July 18, heralded a upbeat mood among investors.
Sentiments were further boosted after the Cabinet approved the recommendations of the 7th Pay Commission, a move which is expected to boost consumption and translate into a stimulus for the economy.
The cabinet also approved the National Mineral Exploration Policy (NMEP).
Buoyant overseas tone on speculation of monetary measures from central banks around the world to cushion the impact of UK's vote to leave the European Union too supported the upmove.
After a strong start to trade, bourses maintained their rising momentum throughout the session alongside hectic short-covering ahead of June futures and options (F&O) expiry.
The 50-share index opened on a strong footing at 8,173.10 and oscillated between 8,212.40 and 8,157.65 before ending at 8,204.00, showing a healthy rise of 76.15 points, or 0.94 per cent.
Barring FMCG, all key sectoral indices witnessed frantic buying. The NSE realty index was at the top among its peers, surging by a solid 3 per cent followed by media (2.01 per cent), IT (1.59 per cent), auto (1.45 per cent), energy (1.33 per cent), metal (1.25 per cent), infra (1.16 per cent), pharma (0.44 per cent), PSU Bank (0.44 per cent) and Nifty Bank (0.73 per cent).
Heavy buying action also lifted midcap and smallcap stocks with respective indices rallying 1.30 and 1.62 per cent.
Major contributors to index rise included Bosch, HDFC, Infosys, TCS, ICICI Bank, Hero MotoCorp, Tata Motors, Reliance, Bharti Infra, Wipro, Power Grid, Kotak Mahindra, HCL-Tech, NTPC, IndusInd Bank, Zee, L&T, ONGC and Maruti.
The key laggards were ITC, HUL, Lupin, Coal India, Bharti Airtel and Eicher Motors.
A total of 1,177 scrips advanced, 396 declined while 68 were unchanged.
Turnover in cash segment rose to Rs 17,509.59 crore from Rs 17,067.78 crore yesterday. A total of 11,456.84 lakh shares changed hands in 74,23,536 trades.
The market capitalisation of NSE stood at Rs 99,91,129 crore.
