Business

Bulls Take Charge Of Dalal Street, Sensex Zooms 809 Points Before MPC Announcement

Frontline equity indices closed in the green on Thursday after a volatile trading session, driven by strong buying in IT stocks. Investors showed optimism ahead of the Reserve Bank of India (RBI) monetary policy decision.

Key Market Movements

The Sensex ended at 81,765, gaining 809.53 points or 1%. The Nifty closed at 24,708.40, up by 240.95 points or 0.98%. During the session, Sensex touched a high of 82,317 and a low of 80,467.

Experts noted a sharp recovery from intraday lows, supported by foreign institutional investors (FIIs) anticipating a dovish stance from the RBI. Broader indices also gained, with the Nifty Midcap 100 rising 0.57% and the Nifty SmallCap 100 climbing 0.83%.

Sectoral and Stock Highlights

Most sectors closed in the green, including IT, auto, financial services, pharma, FMCG, metal, and private banks. PSU Bank and realty sectors ended lower. Top gainers in the Sensex pack included TCS, Titan, Infosys, Bharti Airtel, Bajaj Finance, and ICICI Bank. NTPC, Asian Paints, and IndusInd Bank were the major losers.

RBI Decision Anticipation Boosts Sentiment

The RBI Monetary Policy Committee began its meeting on December 4, and Governor Shaktikanta Das will announce the decisions on December 6. Market participants expect cues on liquidity measures or indications of future rate cuts.

On the currency front, the rupee closed near 84.70, gaining 0.06 paise. Analysts attributed this to strength in the secondary market, where indices posted nearly 1% gains. Investors remain focused on the RBI’s announcement, which could provide further direction for both markets and the rupee.

Also Read: Hemant Soren’s Cabinet Sworn In: Blend Of Experience And Youth

Ajaypal Choudhary

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