Mumbai, December 5 (IANS). The Indian stock market closed in the green on Thursday amid a volatile session. Buying was seen in IT stocks at the end of trading. The Sensex closed at 81,765, up 809.53 points or 1 percent. Whereas, Nifty closed at 24,708.40 with a gain of 240.95 points or 0.98 percent.
Investors’ optimism regarding the upcoming interest rate decision of RBI is being considered a major reason for this rise in the stock market. The Monetary Policy Meeting (MPC) of the RBI began on November 4 and RBI Governor Shakti Kant Das will announce the MPC decisions on November 6.
In the trading session, Sensex reached the upper level of 82,317 and the lower level of 80,467.
According to experts, “The market experienced a sharp recovery from the day’s low and closed with strong gains. The positive stance towards India by FIIs over the past few days in anticipation of monetary policy easing by the RBI boosted the market sentiment. shored up.”
Despite rising volatility in broader market indices, investor confidence led the index to trade in positive territory. The Nifty Midcap-100 index closed at 58,441.55 with a gain of 329.15 points or 0.57 per cent. Whereas, Nifty Smallcap-100 index closed at 19,333.55 with a gain of 160 points or 0.83 percent.
On the sectoral front, IT, Auto, Financial Services, Pharma, FMCG, Metal, Media, Energy, Private Bank closed in the green. PSU banks and realty sectors closed in the red. TCS, Titan, Infosys, Bharti Airtel, Bajaj Finance and ICICI Bank were the top gainers in the Sensex pack. Whereas, NTPC, Asian Paints and IndusInd Bank were the top losers.
“The rupee remained positive and closed 0.06 higher near 84.70. This was supported by strength in the secondary market as the index gained nearly 1 per cent,” said Jatin Trivedi of LKP Securities.
He said, “Market participants are hopeful that Friday’s RBI policy will give some positive signals. However, a cut in interest rates is unlikely. But, any indication of future cut in interest rates or reduction in CRR to increase liquidity will not affect the markets. And the rupee could provide significant support to both.”
–IANS
SKT/ABM
