The Indian markets for the second straight session witness buying spree as the Sensex jumped over 1000 points and the Nifty surpassed 17450-level at the market close on Wednesday. The surge was mainly led by banking and financial stocks, reacting to the RBI MPC’s bi-monthly policy decision released today.

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The Monetary Policy Committee of the Reserve Bank of India (RBI) for the ninth consecutive time has kept the benchmark interest rates unchanged to 4 per cent and maintained the accommodative stance.

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At the market close, the BSE Sensex surged 1016 points or 1.76 per cent to 58645, and Nifty50 soared by 293 points or 1.7 per cent to at the market close. Even the broader markets following the suite of benchmarks grew as mid and small-cap each gained almost 2 per cent at the market close.

A key contributor to the Nifty50’s gain, Nifty Bank surged over 666 points or 1.8 per cent to 37284 levels at the market close, as ICICI Bank powered the Index along with SBI

Of 50 scrips on the Nifty, 45 advanced and 5 declined at the market close. Bajaj Finance became top gainer, up almost 4 per cent, followed by Maruti and Hindalco each up above 3 per cent at the close.

Similarly, SBI, Britannia, Bajaj Finserv, ICICI Bank, Asian Paints, Tata Motors, Infosys, Bharti Airtel, Adani Ports, and Tata Steel each gained between 2-3 per cent at the market close today.

On the contrary, HDFC Life become the only stock to slip above 1 per cent, while others such as Kotak Bank, Power Grid, Divis Lab, and IOC dipped marginally at the market close today.

All sectoral indices closed in the green today, with Nifty Auto surging most by over 2 per cent along with Nifty Bank and Financials each up around 2 per cent at the market close. Besides, Nifty Media and Realty also fuelled the surge in broader markets such as mid and small-cap indices.