Equity markets rallies ahead of RBI policy
Positive global cues, coupled with value buying and higher crude oil prices, lifted the Indian equity markets on Monday. Healthy buying was witnessed in automobile, capital goods and banking stocks.
The wider 51-scrip Nifty of the National Stock Exchange (NSE) surged by 126.95 points or 1.47% to 8,738.10 points.
The barometer 30-scrip sensitive index (Sensex) of the BSE, which opened at 27,997.29 points, provisionally closed at 28,243.29 points (at 3.30 p.m.) -- up 377.33 points or 1.35% from the previous close at 27,865.96 points.
The Sensex touched a high of 28,273.02 points and a low of 27,919.89 points during the intra-day trade.
On 30-share benchmark, among top gainers were Maruti Suzuki (3.7%), Hero MotoCorp (3.18%), Adani Ports (3%), Power Grid (2.72%) and Larsen & Toubro (2.67%). Among losers were Tata Consultancy Services (-0.63%) and Infosys (-0.02%).
The BSE market breadth was skewed in favour of the bulls -- with 2,224 advances and 663 declines.
On Friday, the Indian equity markets closed flat as investors were seen reluctant to chase prices after tension between India and Pakistan escalated, and due to an outflow of foreign funds.
The barometer index had inched up by 38.43 points or 0.14%, while the NSE Nifty marginally gained 19.90 points or 0.23%.