Equity indices gain ahead of RBI decision on interest rates

Bombay Stock Exchange. (File Photo: IANS)

Equity benchmark indices were in the positive terrain during early hours on Thursday ahead of the Reserve Bank of India’s monetary policy that is expected to announce measures to boost economic growth amid rising COVID-19 cases.

At 10:15 am, the BSE S&P Sensex was up by 213 points or 0.57 per cent at 37,876 while the Nifty 50 gained by 60 points or 0.54 per cent at 11,162.
All sectoral indices at the National Stock Exchange were in the green with Nifty IT gaining by 1.6 per cent. Financial and banking gauges were subdued.

Among stocks, Tech Mahindra advanced by 2.1 per cent, Tata Consultancy Services by 1.9 per cent, Wipro by 1.6 per cent and HCL Technologies by 1.4 per cent.

Energy stocks too gained with ONGC, Bharat Petroleum Corporation, IndianOil Corporation, GAIL and Coal India witnessing marginal gains.

However, Eicher Motors was down by 1.6 per cent, Maruti Suzuki by 1.1 per cent, JSW Steel by 1 per cent and Hindalco by 0.7 per cent.

Meanwhile, Asian markets were firm as global investors hoped for a fresh stimulus in the United States to shore up the economy in the wake of COVID-19 crisis.

MSCI’s broadest index of Asia Pacific shares outside Japan extended the week’s rally by 0.3 per cent to a fresh six-and-a-half-month high. Japan’s Nikkei index was steady.

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