Sensex, Nifty hit record highs ahead of RBI policy decision

PTI

Mumbai, April 4

Equity benchmark indices Sensex and Nifty rebounded sharply to hit record fresh highs on Thursday, propped up by buying in IT, consumer durables and financial stocks amid expectations of a robust corporate performance.

Besides, investors lapped up select banking stocks expecting a status quo in the interest rate decision of the RBI’s monetary policy committee, analysts said.

Largecaps major gainers

• BSE largecap index gained 0.34% and smallcap rose 0.54%, while the midcap index lost marginally by 0.11%
• Among the Sensex constituents, 20 stocks ended the session in green with HDFC Bank, Titan, Tech Mahindra, and Asian Paints being the major gainers

The six-member rate-setting panel, which began its deliberation on Wednesday, will announce the decision on Friday. The 30-share BSE Sensex surged 350.81 points or 0.47 per cent to settle at its lifetime high of 74,227.63. The broader NSE Nifty also hit its fresh peak of 22,514.65, gaining 80 points or 0.36 per cent. As many as 31 components of the 50-share benchmark ended with gains.

Both indices had ended lower in the previous two sessions. On March 7, Sensex recorded its previous peak of 74,119.39. Nifty scaled its previous high of 22,493.55.

“Market breadth displayed a positive trend within a narrow trading range, with attention focused on the RBI’s monetary policy announcement tomorrow,” Vinod Nair, Head of Research, Geojit Financial Services, said—

#Mumbai #Reserve Bank of India RBI #Sensex