Ahead of RBI policy meet, Sensex rises nearly 100 points
The BSE Sensex rose nearly 100 points in opening trade on Wednesday ahead of Reserve Bank of India's monetary policy review that begins today. The six-member Monetary Policy Committee (MPC), headed by RBI Governor Urjit Patel, is scheduled for a two-day meet today and tomorrow. Rising for the third straight session, the 30-share index gathered another 98.15 points, or 0.29%, to 33,468.78. Here's more.
In previous two sessions, the Sensex gauge had rallied by 401.95 points. Similarly, the NSE Nifty gained another 29.60 points, or 0.28%, to trade at 10,274.60. Major gainers were Tata Motors (3.48 percent), Hero MotoCorp (0.93 percent), Bajaj Auto (0.85 percent), Yes Bank (0.66 percent), M&M (0.66 percent), TCS (0.58 percent), Bajaj Auto (0.58 percent) and Maruti Suzuki (0.55 percent).
Sectoral indices, led by auto, realty, healthcare, consumer durables, IT, and metal, were trading in the positive zone with gains up to 1.12%. Brokers, meanwhile, said sentiments remained firm largely on the back of sustained buying by DIIs as well as retail investors and positive cues from other Asian cues, tracking gains on the Wall Street. Investors, however, are in a wait-and-watch mode.
Meanwhile, on a net basis, the domestic institutional investors (DIIs) bought shares worth Rs. 479.18 crore, while the foreign portfolio investors (FPIs) sold shares worth Rs. 376.51 crore on Tuesday, provisional data showed. Elsewhere in Asia, Hong Kong's Hang Seng was up 0.20%, while Japan's Nikkei rose 0.46% in early trade today. Also, the Shanghai Composite Index gained 0.72%.