Indian shares rose for a third straight session on Thursday after the Reserve Bank of India (RBI) left its key interest rate unchanged at a record low and maintained its ‘accommodative’ stance, saying that the ongoing recovery needs continued policy support.
Taking into consideration the outlook for inflation and growth, the Monetary Policy Committee was of the view that continued policy support is warranted for a durable and broad-based recovery.
The benchmark 30-share S&P BSE Sensex jumped 460.06 points, or 0.79 percent, to 58,926.03, while the broader NSE Nifty index settled at 17,605.85, up 142.05 points, or 0.81 percent, from its previous close.
HDFC Bank, SBI Life, Infosys, Tata Steel and ONGC rallied 2-4 percent while Maruti Suzuki India led losses to close 1.7 percent lower.
Adani Power soared more than 14 percent after the Supreme Court on Tuesday accepted a settlement deed between the company and Gujarat Urja Vikas Nigam over supply of 2,000 MW electricity to the state discom.
Adani Wilmar shares were locked at the 20 percent upper circuit limit.
Market Analysis
Sensex Jumps 460 Points; Nifty Tops 17,600
2022-02-10 11:06:36
