Sensex up 242 pts ahead of RBI policy; Infy, Hindalco lead.
Equity benchmarks surged one percent on Monday ahead of RBI policy tomorrow, recouping more than half of Friday’s losses. The rupee recovered too, up 25 paise to 60.93 a dollar compared to Friday's closing value.
The 30-share Sensex rose 242.32 points to close at 25723.16 and the 50-share Nifty climbed 81.05 points to 7683.65 followed by broader markets. The BSE Midcap and Smallcap indices gained 0.9 percent and 1.1 percent, respectively.
All eyes are set on Reserve Bank of India's monetary policy scheduled on Tuesday. Economists expect no change in policy rates but they see some change in liquidity norms.
Technology stocks led today’s rally with the BSE IT Index gaining 2 percent aided by rupee's fall to 61 a dollar. Infosys was the top gainer in the Sensex, up 3.66 percent followed by Wipro with 2.4 percent.
Equity benchmarks surged one percent on Monday ahead of RBI policy tomorrow, recouping more than half of Friday’s losses. The rupee recovered too, up 25 paise to 60.93 a dollar compared to Friday's closing value.
The 30-share Sensex rose 242.32 points to close at 25723.16 and the 50-share Nifty climbed 81.05 points to 7683.65 followed by broader markets. The BSE Midcap and Smallcap indices gained 0.9 percent and 1.1 percent, respectively.
All eyes are set on Reserve Bank of India's monetary policy scheduled on Tuesday. Economists expect no change in policy rates but they see some change in liquidity norms.
Technology stocks led today’s rally with the BSE IT Index gaining 2 percent aided by rupee's fall to 61 a dollar. Infosys was the top gainer in the Sensex, up 3.66 percent followed by Wipro with 2.4 percent.
Top car maker Maruti Suzuki continued to see buying interest, up 2.4 percent in addition to 2.5 percent gains in Friday’s session after strong July sales numbers. Commercial vehicle maker Tata Motors and two-wheeler maker Bajaj Auto gained 1.7 percent each post sales numbers.
Among others, shares of ITC, Larsen and Toubro, ICICI Bank, ONGC, Sesa Sterlite, Hindalco Industries, Mahindra and Mahindra and BHEL gained 1-3 percent.
However, HDFC, Sun Pharma, HDFC Bank, Bharti Airtel and Cipla underperformed, falling 0.3-1 percent.
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