Mumbai: The Indian equity indices soared high on Wednesday, ending an eight-day losing streak following heavy buying, after the RBI decided to keep the repo rate unchanged at 5.5 per cent along with raising GDP growth forecast to 6.8 per cent for FY26, from its earlier projection of 6.5 per cent.
The strong automobile sales data for September has also fueled the market sentiment.
Sensex ended the session at 80,983.31, up 715.69 points or 0.89 per cent. The 30-share index started the session a bit lower at 80,159.90 against last session’s closing of 80,267.62. However, the index turned positive and had a sharp rally after post RBI announced to maintain the status quo on repo rate. The index touched an intraday high of 81,068.43.
Nifty closed at 24,836.30, soaring 225.20 points or 0.92 per cent.
“Nifty closed Wednesday’s session with a strong bullish candlestick after the RBI policy outcome and auto sales data, reclaiming levels above its 100-day EMA at 24,750, which earlier acted as resistance,” said analysts..
Tata Motors, Kotak Bank Trent, Sun Pharma, Axis Bank, ICICI Bank, Tech Mahindra, HDFC Bank, Adani Ports, Mahindra and Mahindra, Eternal, Titan, TCS, ITC, BEL, and Hindustan Unilever were the top gainers from the Sensex basket. Bajaj Finance, Ultratech Cement, SBI, and Asian Paint ended the session lower.
Sectoral indices mirrored the market sentiment amid value buying. Nifty Bank soared 712 points or 1.30 per cent, Nifty Fin Services surged 360 points or 1.38 per cent, Nifty Auto escalated 226 points or 0.85 per cent, Nifty FMCG ended the session 394 points or 0.72 per cent, and Nifty IT jumped 250 points or 0.74 per cent.
Broader indies followed suit as well. Nifty Small Cap 100 escalated 193 points or 1.10 per cent, Nifty Midcap 100 surged 500 points or 0.89 per cent, Nifty 100 soared 207 points or 0.82 per cent, and Nifty Next 50 closed 242 points or 0.36 per cent higher.
(IANS)
