Sensex surges 809 points ahead of RBI policy announcement, IT stocks gain

DELHI Delhi. The benchmark BSE Sensex on Thursday rose 809 points in volatile trade a day ahead of the RBI policy review announcement, rising for the fifth consecutive day. The 30-share BSE benchmark Sensex jumped 809.53 points or 1 per cent to close at 81,765.86. During the day’s trade, it rose 1,361.41 points or 1.68 per cent to 82,317.74, but lost gains in the pre-closing session due to profit booking by investors. The NSE Nifty rose 240.95 points or 0.98 per cent to 24,708.40. Analysts said benchmark indices continued their winning streak for the fifth day on buying in IT stocks and gains in US markets.

Among the 30-share Sensex pack, Tata Consultancy Services, Titan, Infosys, Bharti Airtel, Bajaj Finance, ICICI Bank, HCL Technologies and Tech Mahindra were the top gainers. NTPC and Asian Paints were among the losers. “Dow crossing 45,000 for the first time ever is a sign of strength in the US market rally. Macro constructs in the US – strong growth and declining inflation support this rally. Fed chief Powell’s remarks yesterday that ‘the economy is in remarkably good shape’ is an inspiration for US bulls,” said VK Vijayakumar, chief investment strategist at Geojit Financial Services. The BSE midcap gauge rose 0.27 per cent and the smallcap index added 0.16 per cent. On the BSE, 2,141 stocks advanced, while 1,825 declined and 117 remained unchanged.