The apex Bank’s decision not to change the Repo and Reverse Repo rates and its assurance to give continued support to the market boosted the morale of investors on Dalal Street as benchmark indices came closer to their all-time high levels on Friday.
Reliance was in the forefront today along with IT stocks resulting in Sensex and Nifty rising to a higher level. State-run banks, which have heavy exposure to Air India, were the most sought after stocks, ahead of a press conference by the Civil Aviation Ministry.
The 30-share pack Sensex rose 381.23 points or 0.64 per cent to close at 60,059.06 while Its broader peer NSE Nifty went up 104.85 points or 0.59 per cent to 17,895.20.
CreditAccess Grameen ended lower after Q2 results while TCS climbed one per cent ahead of release of Q2 earnings. L&T gained about one per cent after jefferies added it to two portfolios. Tata Motors gained by about 2 per cent after Morgan Stanley upgrade.
India VIX, a barometer of volatility and fear, declined 3 per cent.
Among the top companies, Reliance Industry was the topmost gainer, rising 3.76 per cent. The other gainers were Wipro, Infosys, Tech Mahindra, HCL Tech, TCS, Tata Steel and L&T.
In the Nifty pack, Coal India was the top loser dropping 1.57 per cent. There were others like SBI Life Insurance, NTPC, Maruti Suzuki, Shree Cement, HUL, Tata Consumer Products which ended in the Red.
Broader Market Indices ended higher, outperforming their headline peers. Nifty Smallcap rose 1.23 per cent and Nifty Midcap moved ahead 0.43 per cent. Nifty 500, the broadest index on NSE, ended up 0.49 per cent.
