Sensex rises nearly 100 points ahead of RBI policy meet

The BSE Sensex rose nearly 100 points in opening trade today 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. The gauge had rallied by 401.95 points in previous two sessions.

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 %), Hero MotoCorp (0.93 %), Bajaj Auto (0.85 %), Yes Bank (0.66 %), M&M (0.66 %), TCS (0.58 %), Bajaj Auto (0.58 %) and Maruti Suzuki (0.55 %).

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 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 ahead of the RBI’s first bi-monthly policy meet for FY19, they added.

Meanwhile, on a net basis, domestic institutional investors (DIIs) bought shares worth Rs 479.18 crore, while foreign portfolio investors (FPIs) sold shares worth Rs 376.51 crore yesterday, 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. Shanghai Composite Index gained 0.72 %.

The US Dow Jones Industrial Average ended 1.65 % higher in yesterday’s trade.

Bombay Stock Exchange - BSE

National Stock Exchange of India Ltd (NSE)