The rally ahead of the outcome of the RBI’s money policy review shows the market expects continued support from the central bank. However, any negative commentary can derail the exuberance in the coming days.
The 30-share pack Sensex rose 382.95 points or 0.74 per cent to close at a record high of 52,232.43. The index is very close to its all-time high of 52,516.76. Its broader peer NSE Nifty gained 114.15 points or 0.73 per cent to settle at 15,690.35.
“The global markets were cautious as the US and European equities traded in red ahead of the release of key economic US data. In the wake of increasing inflationary pressure, the domestic market is awaiting tomorrow’s RBI MPC announcement, in which the central bank is expected to maintain its accommodative stance,” said Vinod Nair, Head of Research at .
Market at a glance:
- Sugar stocks close higher as government sets 20% ethanol blend target by 2023
- Volatility gauge India VIX eases 8% to close under 16
- Snowman Logistics soars 11% as company partners with DRL
- Muthoot Finance jumps 7% after Q4 earnings
- IndusInd Bank falls 2% as order against Hinduja Bank resurfaces
