Domestic benchmark indices, Sensex and Nifty, snapped a three-day losing streak to trade over one percent higher during the session and ended on a strong note ahead of the RBI policy outcome. At close, the Sensex was up 875 points or 1.11 percent at 79,468 and the Nifty was up 305 points or 1.27 percent at 24,297.
The broader markets also showed strength, with BSE Midcap index and Smallcap index up over 2 percent each.
In the Sensex index, 21 out of 30 companies traded in the positive territory.
The top gainers today were, Adani Ports 3.42 percent, Power Grid 3.29 percent and JSW Steel 2.61 percent.
The major laggards were, IndusInd Bank 2.54 percent, titan 0.32 percent and Tech Mahindra 0.27 percent.
In Sectoral Indices at the BSE, all 20 sectors logged gains.
The major gainers were, Oil and Gas 3.75 percent, Metal 3.44 percent and Energy 3.32 percent.
The overall market breadth at the BSE was positive, out of 4,031 Companies, shares of 2,986 Companies advanced, 947 declined and 98 remain unchanged.
In the Forex market today, the Indian rupee closed at 83.96 against the US dollar. The local currency consolidated in a narrow range and settled for the day lower by 4 paise.
The dollar index, which indicates US dollar’s strength against a basket of six other leading currencies, was up by 0.22 percent at 103.19 in intra-day trade.
The global oil market has experienced significant volatility due to the complex interplay of geopolitical tensions in West Asia, economic concerns, and production disruptions. Oil prices saw a sharp decline in the last seven days, primarily driven by fears of a potential U.S. recession and weak demand from China. However, this downward trend was partially offset by escalating tensions in the West Asia following an Israeli attack on Iranian territory.
In the global crude market, Brent Crude was trading 1.60 percent higher at 77 dollars and 70 cents per barrel. Meanwhile, WTI Crude was also up 1.61 percent, trading at 74 dollars and 38 cents per barrel, when reports last came in.
Major US markets rebounded yesterday after losses in three consecutive sessions.
The Dow Jones Industrial Average finished up 0.8 percent. The broad-based S&P 500 gained 1 percent, while the tech-rich Nasdaq Composite Index also advanced 1 percent.
All five major Asian indices experienced gain amid global market rebound. South Korea’s Kospi increased 1.80 percent, Singapore’s Straits Times index added 1.58 percent, Hong Kong’s Hang Seng Index was up 1.37 percent, Japan’s Nikkei gained 1.18 percent and the China’s Shanghai Composite Index marginally up by 0.09 percent.
All three major European Indices were also trading in the positive territory today. France’s CAC 40 increased 1.56 percent, Germany’s DAX gained 1.26 percent and London’s FTSE added 0.99 percent, when reports last came in.