Both the indexes have rallied more than 2 per cent in three straight trading sessions.
New Delhi: The Indian equity indices on Thursday continued to surge after Reserve Bank of India (RBI) kept key rates unchanged to support economic growth. The central bank’s monetary policy committee (MPC) held the lending rate, or the repo rate, at 4 per cent and the reverse repo rate, or the key borrowing rate, at 3.35 per cent.
The 30-share BSE soared 460 points or 0.79 per cent to settle at 58,926, while the broader NSE Nifty moved 142 points or 0.81 per cent higher to close at 17,606. Both the indexes have rallied more than 2 per cent in three straight trading sessions.
Mid- and small-cap shares finished on a positive note as Nifty Midcap 100 index jumped 0.29 per cent and small-cap shares moved 0.47 per cent higher.
13 out of the 15 sector gauges — compiled by the National Stock Exchange — settled in green. Nifty Metal outperformed the index by rising as much as 1.24 per cent.
On the stock-specific front, ONGC was the top Nifty gainer as the stock surged 3.63 per cent to Rs 169.90. Tata Steel, Infosys, SBI Life and HDFC Bank were also among the gainers.
In contrast, Maruti Suzuki India, Indian Oil Corp, Shree Cement, UltraTech Cements and Adani Ports were among the losers.
Also, Adani Wilmar rose as much as 19.98 per cent to hit its upper circuit limit of Rs 381.80, valuing the firm at Rs 49,621 crore. The stock has jumped around 66 per cent from its issue price of Rs 230 in just three sessions.
“The market witnessed some strong trends and an attempt to hold the support level around the Nifty 50 index level of 17,600. While sustaining above 17,400 is the key factor from a short-term perspective, market research suggests maintaining above this level is important for the market to gain momentum and extend the rally until 18,000,” said Vijay Dhanotiya, Category Lead – HNI Products at CapitalVia Global Research Limited.
The overall market breadth stood slightly weak positive as 1,568 shares advanced while 1,769 declined on BSE.
On the 30-share BSE platform, Tata Steel, Infosys, HDFC twins (HDFC and HDFC Bank), Kotak Mahindra Bank, M&M and PowerGrid attracted the most gains with their shares rising as much as 1.96 per cent. Maruti, Nestle India, Reliance Industries and Titan were among the laggards.