Sensex climbs 159 points, RBI policy meet in focus
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MUMBAI: The Sensex surged by over 159 points on Tuesday as interest-sensitive stocks took the centrestage ahead of RBI's announcement of its policy decision later in the day amid firm Asian cues.
The rupee gained more against the dollar, buoying the overall mood.
The 30-share index rose 159.36 points, or 0.56 per cent, to 28,402.65, with sectoral indices led by auto, realty, banking, oil & gas and power trading in the positive zone with a gain of up to 0.74 per cent.
The gauge had rallied 415.76 points in the previous two sessions.
The NSE Nifty too added 34.30 points, or 0.39 per cent, at 8,772.40.
Sentiment remained upbeat as investors went about building fresh bets in anticipation of a rate cut. The credit policy review will be the first under new RBI Governor Urjit Patel with assistance from the newly constituted monetary policy committee (MPC).
Major gainers that supported the key indices were ONGC, GAIL, Hero MotoCorp, Adani Ports, RIL, Cipla and Tata Motors.
Hong Kong's Hang Seng was up 0.04 per cent while Japan's Nikkei went up 0.88 per cent. Chinese markets are closed for all the week for the National Day holiday.
The US Dow Jones Industrial Average, however, ended 0.30 per cent lower in Monday's trade.
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Maharashtra Deputy Chief Minister and NCP head Ajit Pawar on Monday said discussions were underway among the Mahayuti partners to finalise a formula for the new government formation in the state.
Speaking to reporters at Karad in Satara district, Pawar also acknowledged the contribution of the government's Ladki Bahin scheme, which provides financial assistance to women, in the Mahayuti's victory in the just-concluded state assembly polls.
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The district administration has already imposed prohibitory orders and barred the entry of outsiders into Sambhal till November 30.
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A day after violence rocked Uttar Pradesh's Sambhal, Leader of Opposition in the Lok Sabha Rahul Gandhi on Monday said the BJP's use of power to create a rift between Hindus and Muslims was neither in the interest of the state nor the country.
He also urged the Supreme Court to intervene in the matter as soon as possible.
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The Karnataka High Court has dismissed a petition seeking quashing of an FIR against two individuals accused of defrauding e-commerce giant Amazon of over Rs 69 lakh.
Justice M Nagaprasanna described the case as an example of modern age crime.
The petitioners, Sourish Bose and Deepanvita Ghosh, had sought to have the FIR and a magistrate court's order taking cognisance of the case set aside.
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India’s Adani Group said it has enough cash flows to service debt obligations, as it sought to reassure creditors after a US bribery probe against founder Gautam Adani triggered a selloff in the conglomerate’s stocks and bonds.
Cash balances exceed long-term debt repayments for the next 28 months, while portfolio level cash balances were at $6.33 billion, the port-to-power conglomerate said in a report for the first six months of the financial year ending March 2025 released Monday.
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