Indian markets rally as Sensex rises, RBI policy announcement awaited
Business
Indian stock markets kicked off Wednesday on a positive note, with the Sensex jumping 451.73 points to 78,880.68 and the Nifty inching up to 24,635.50.
This upbeat start was fueled by strong global trends, cheaper crude oil, and sustained foreign fund inflows.
All eyes are now on the Reserve Bank of India's big policy announcement coming up at 10am.
Indian markets outperform, real estate leads
Broader markets outperformed the main indices: Nifty Next 50 rose 0.59% and Nifty Smallcap 100 climbed 0.74%.
Real estate stocks led the pack with a solid gain of 1.71%, while auto and PSU bank shares also saw some action.
On the flip side, health care and FMCG stocks slipped a bit in early trading.
Global rallies and lower oil prices have helped keep investor mood optimistic so far today.