Mumbai: Ignoring negative global cues, the NSE benchmark Nifty Monday rose 31 points to reclaim 8,000-mark on upbeat factory output data and steady inflation, marking a turnaround from eight-month lows.
The overall mood remained upbeat after factory output jumped to a two-month high of 4.1 percent in April -- higher than street expectations.
However, retail inflation marginally edged-up to 5.01 percent in May, slightly higher than 4.87 percent in the month of April, while the wholesale inflation remained in the negative zone for the seventh consecutive month.
Moreover, the revival of monsoon in the last three days also soothed the nerves.
In a recent sell-off by foreign investors, the Indian markets had hit eight months low spooked by concerns over economic recovery and forecast of a deficient monsoon as well as dismal fourth quarter corporate earnings.
After initial hiccups, key indices today picked up momentum as investors chased beaten-down blue-chips. Index pared some gains on emergence of profit-taking at higher levels during the last hour.
The 50-share barometer fluctuated between 8,057.70 and 7,944.85 before ending at 8,013.90, a gain of 31 points or 0.39 percent.
In other Asian markets, equities plunged sharply after Greek default fears resurfaced following collapse of negotiations last night.
Sector-wise, media, auto, healthcare, technology, energy, FMCG, infra and realty registered gains, while, banking and metal underperformed its peers.
Mid-cap and small-cap finished marginally higher.
HDFC, Sun Pharma, Reliance, ICICI Bank, Idea, M&M, Tata Motors, L&T, ONGC, Bajaj Auto, HCL-Tech, HUL, Zee, ITC, Cairn India and Maruti were among the gainers.
Key laggards included SBI, Kotak Bank, HDFC Bank, Bank of Baroda, Asian Paints, IndusInd and Hindalco.
Turnover in the cash segment slipped to Rs 11,653.56 crore against Rs 12,622.83 crore last weekend.
A total of 6,335.77 lakh shares changed hands in 58,55,309 trades and the total market capitalisation of the NSE stood at Rs 94,39,751 crore.
