Sensex jumps 682 points after RBI Governor Malhotra hints pause
Big moves in the Indian stock market today: Sensex shot up 682 points to reach 76,882, and Nifty climbed 167 points to 23,991, just below the big 24,000 milestone.
This rally came after RBI Governor Sanjay Malhotra hinted that more interest rate hikes might not be needed, giving investors a reason to cheer.
Tech Mahindra and ICICI Bank rally
Tech Mahindra and ICICI Bank led the pack with nearly 3% gains. IndiGo, HDFC Bank, Infosys, Trent, Bajaj Finance, and TCS also saw solid jumps around 2%.
On the flip side, Maruti Suzuki, NTPC, Titan, and Tata Steel slipped about 1%.
IT and private banks were strong sectors today; metals and consumer durables lagged behind.
Nifty smallcap and midcap slip
Even though headline indexes soared, broader markets like Nifty Smallcap 100 and Midcap 100 edged down.
The India VIX (volatility index) dropped almost 3%, showing investors felt a bit less anxious.
Out of over 3,000 stocks traded on NSE today, advances and declines were nearly balanced, so overall sentiment stayed pretty steady despite the excitement.