Equity benchmark indices rose early ahead of RBI’s interest rate decision. HCL Technologies, IndusInd Bank, State Bank of India, Mahindra & Mahindra, Tata Consultancy Services, and NTPC advanced with PowerGrid.
Global market gains boosted equity benchmark indexes in early trade on Thursday ahead of the Reserve Bank of India’s interest rate decision. The BSE Sensex jumped 321.42 points to 72,473.42 and the Nifty 80.55 to 22,011.05.
PowerGrid led the Sensex gains, rising over 4% after reporting a 10.5% increase in consolidated net profit to Rs 4,028.25 crore in the December quarter. HCL Technologies, IndusInd Bank, State Bank of India, Mahindra & Mahindra, Tata Consultancy Services, and NTPC also gained.
Sensex laggards were ITC, Maruti, Bajaj Finance, and Asian Paints. Seoul, Tokyo, and Shanghai rose, but Hong Kong fell. US stocks rose Wednesday.
Market experts expect strong momentum, watching the RBI’s decision. Brent crude increased 0.42 percent to USD 79.54 a barrel.
According to market statistics, FIIs sold Rs 1,691.02 crore in stocks on Wednesday. The BSE benchmark fell 34.09 points or 0.05 percent to 72,152 on Wednesday, while the Nifty rose 1.10 points or 0.01 percent to 21,930.50.
Conclusion
Global market rally drove equity benchmark indices higher in early trade before the Reserve Bank of India’s interest rate decision. PowerGrid led the gains with 10.5% consolidated net profit growth. HCL Technologies, IndusInd Bank, SBI, Mahindra & Mahindra, TCS, and NTPC had big gains. Brent crude is expected to rise 0.42 percent, according to market experts.
