Mumbai: The benchmark BSE Sensex extended its winning streak for the fifth straight session, rising 809.53 points, or 1 per cent, to close at 81,765.86 on Thursday, ahead of the RBI’s monetary policy announcement.
During the session, it touched an intraday high of 82,317.74, up 1,361.41 points or 1.68 per cent, before paring gains in the pre-close session due to profit-booking.
The NSE Nifty advanced 240.95 points, or 0.98 per cent, to end at 24,708.40.
Buying in IT shares and a rally in US markets drove the indices higher. Key Sensex gainers included Tata Consultancy Services, Titan, Infosys, Bharti Airtel, Bajaj Finance, ICICI Bank, HCL Technologies, and Tech Mahindra. NTPC and Asian Paints were among the laggards.
Dow crosses 45,000-mark
Global market cues provided support, with the Dow crossing the 45,000 mark for the first time. “The Fed chief Powell’s remark that the economy is in remarkably good shape has boosted US market sentiment,” noted V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.
BSE midcap rose 0.27 per cent, while the smallcap index gained 0.16 per cent. Among sectors, IT indices led with BSE Focused IT up 1.96 per cent, teck gaining 1.92 per cent, and IT rising 1.81 per cent. Telecommunications (0.95 per cent) and Bankex (0.68 per cent) also advanced. Services and realty indices ended lower.
FIIs net buyers on Wednesday
Foreign Institutional Investors (FIIs) net bought equities worth Rs1,797.60 crore on Wednesday, contributing to the rally. Over the past five sessions, the Sensex has gained 2,722.12 points, or 3.44 per cent.
Analysts expect Friday’s RBI policy decision to influence the market’s trajectory. Ajit Mishra, SVP, Research, Religare Broking Ltd, said, “The recent surge has factored in potential RBI support, making the market’s response to Friday’s outcome crucial. Broader sectoral participation is needed to sustain the rally.”
Asian markets ended mixed, while European indices traded higher. Brent crude rose 0.53 per cent to USD72.68 per barrel.
