Sensex Rallies Over 850 Points Ahead Of RBI's Policy Decision Led By Banks
NDTV
ICICI Bank, HDFC Bank, HDFC, Infosys and Reliance Industries were among the top movers in the 30-share Sensex.
The Indian equity benchmarks bounced back strongly after two sessions of sharp losses a day ahead of the Reserve Bank of India's monetary policy decision due on Wednesday led by rate sensitive shares. The Sensex rose as much as 1,158 points or 2 per cent and Nifty 50 index moved above its important psychological level of 17,250 at the day's highest level. ICICI Bank, HDFC Bank, HDFC, Infosys and Reliance Industries were among the top movers in the 30-share Sensex.
The Sensex climbed 887 points to close at 57,634 and Nifty 50 index advanced 264 points to close at 17,177.
Investor sentiment got a boost on Tuesday on hopes that the Reserve Bank of India will likely hold off on raising its key borrowing and lending rates on Wednesday, as it adopts a cautious tone amid the spread of the Omicron coronavirus variant, economists and market participants said.
Fifty economists surveyed by Reuters in a December 1-3 poll expect the RBI to hold its benchmark repo rate at 4.00 per cent.
