Sensex hits three-month high ahead of RBI meet, rises 232 pts

The BSE benchmark Sensex today jumped 232 points to close at three-month high of 19,735.77 led by funds buying in bluechips on expectations of rate cut by the RBI tomorrow.
The Sensex spurted by 231.59 points, or 1.19 per cent to 19,735.77, a level last seen on February.
With the firming trend, the broad-based National Stock Exchange index Nifty hit a psychological 6,000 level before ending with a gain of 69.15 points, or 1.17 per cent to 5,999.35.
Brokers said trading sentiment firmed up as easing global commodity and slowing inflation provided enough room for the Reserve Bank of India to cut interest rate in its credit policy meeting tomorrow.

They said financial and interest-linked counters were in keen demand and fetched significant volumes on fund-based buying.
State Bank surged 1.55 per cent to Rs 2,299.35, after losing ground in last three trading sessions while Housing Development Finance Corp, a biggest mortgage lender, rose 1.99 per cent to Rs 864.10. HDFC Bank advanced 1.47 per cent to Rs 692.15 ICICI Bank by 0.74 per cent to Rs 1,171.80.

The two most heavy with their 16 per cent weightage on the Sensex - Reliance Industries spurted by 1.85 per cent to Rs 802.75 and Infosys by 2.35 per cent to Rs 2,286.90. Larsen rose by 2.61 per cent to Rs 1,552.15.

Bucking the general firming trend, Bharti Airtel fell by 0.64 per cent to Rs 316.70 on disappointing quarter earnings.
In 30-BSE index components, 18 stocks closed with gains led by TCS, Mahindra & Mahindra, Larsen & Toubro, Infosys, HDFC and RIL.