Equities zoomed on all-round buying triggered by strong foreign fund inflows, leading the benchmark Nifty to vault 139 points and reclaim the 8,000 mark on National Stock Exchange (NSE) today as the market heaved a sigh of relief on US Fed's rate stance and India won multi-billion investment pledge from China.
The US Federal Reserve, after a two-day meeting, vowed yesterday to keep the interest rates near zero for a "considerable" time after its bonds buying programme comes to an end in October, giving immediate relief to the emerging markets, including India, as fears of capital outflows ebbed.
Investor optimism was boosted after visiting Chinese President Xi Jinping signed trade and economic co-operation pacts, committing investments worth USD 20 billion in India over the next five years.
Sectoral indices shot up on hectic buying with realty soaring 4.90 per cent, followed by auto (2.77 per cent), infra (2.54 per cent), PSU bank (2.63 per cent), banking (2.01 per cent), pharma (1.86 per cent), energy (1.69 per cent) and metal (1.15 per cent).
Small and mid-cap indices also gained 2.44 per cent and 1.96 per cent, respectively.
The 50-share Nifty opened lower at 7,950.65 and surged to a high of 8,120.85 and then fell to a low of 7,939.70 before closing at 8,114.75, logging a spectacular gain of 139.25 points, or 1.75 per cent, over its last close.
Elsewhere, Asian markets rose after the US Federal Reserve meet outcome.
Top gainers included Hero Moto (5.8 per cent), DLF (3.67 per cent), BPCL (3.65 per cent), Tata Motors (3.64 per cent) and L&T (3.62 per cent). Other notable gainers were BHEL, Dr Reddy's, HDFC, Bajaj Auto and Bank of Baroda.
Turnover in the cash segment climbed to Rs 17,780.85 crore from Rs 16,285.91 crore yesterday. A total of 10,251.66 lakh shares changed hands in 80,73,155 trades, while market capitalisation stood at Rs 93,77,683 crore.
