Equity indices soar after RBI holds rates, banks stocks gain (Third Lead)

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Mumbai, April 5 (IANS) Key Indian equity indices on Thursday escalated after the Reserve Bank of India (RBI) maintained status quo on its key short-term lending rate at 6 per cent at its first bi-monthly monetary policy review of 2018-19.

Besides, positive cues from the global markets, along with healthy buying in banks, metals and auto stocks, pushed the BSE Sensex over 500 points and the NSE Nifty50 almost 200 points higher.

The wider Nifty50 of the National Stock Exchange (NSE) reclaimed the 10,300-mark in the process. The index surged by 196.75 points or 1.94 per cent to provisionally close (at 3.30 p.m.) at 10,325.15 points.

The barometer 30-scrip Sensitive index (Sensex) of the BSE, which opened at 33,289.96 points, closed at 33,596.80 points — up 577.73 points or 1.75 per cent from its previous session’s close.

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The Sensex touched a high of 33,637.46 points and a low of 33,267.86 points during the intra-day trade.

The BSE market breadth was bullish with 2,071 advances and 631 declines.

State Bank of India, Tata Steel, ICICI Bank, Kotak Bank and Hero MotoCorp were the top gainers on the BSE.

On Wednesday, the key indices had tumbled after further trade protectionist measures imposed by two major global economies on each other spooked investors.

The NSE Nifty50 declined by 116.60 points or 1.14 per cent to close at 10,128.40 points, while the Sensex closed at 33,019.07 points — down 351.56 points or 1.05 per cent.

–IANS

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