Equity indices soar after RBI holds rates, banks stocks gain

The key indices of the domestic equity markets escalated after the Reserve Bank of India (RBI) on Thursday maintained status quo on its key short-term lending rate at 6 per cent at its first bi-monthly monetary policy review of 2018-19.

Besides, positive cues from the global markets, as well as healthy buying in metals, auto and banking stocks, added to the upward trajectory of the key indices.

Around 2.40 p.m., the wider Nifty50 of the National Stock Exchange (NSE) traded higher by 168.15 points or 1.66 per cent at 10,296.55 points.

The barometer 30-scrip Sensitive index (Sensex) of the BSE, which opened at 33,289.96 points, traded at 33,540.16 points -- up 521.09 points or 1.58 per cent from its previous session's close.

The Sensex has so far touched a high of 33,543.34 points and a low of 33,267.86 points during the intra-day trade.

The BSE market breadth was bullish with 2,041 advances and 591 declines.

Tata Motors, Tata Steel, State Bank of India, ICICI Bank and Hero MotoCorp were the top gainers on the BSE.

On Wednesday, the key indices had tumbled after further trade protectionist measures imposed by two major global economies on each other spooked investors.

The NSE Nifty50 declined by 116.60 points or 1.14 per cent to close at 10,128.40 points, while the Sensex closed at 33,019.07 points -- down 351.56 points or 1.05 per cent.

--IANS

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