INSUBCONTINENT EXCLUSIVE:
Stock markets extended the rally to fifth day with the SP BSE Sensex surging over 350 points and the NSE Nifty 50 Index climbing above
11,050 to hit highest level in over four months
The Sensex rose 358 points or 0.98 per cent to close at 36,975 and the NSE Nifty 50 Index advanced 1.17 per cent or 128 points to 11,062
Rally in today's session was led by Reliance Industries, ICICI Bank, Infosys and Tata Consultancy Services.Stock markets extended rally on
hopes that the Reserve Bank of India might change its policy stance to stance to "neutral" from "calibrated tightening", in the first meet
under the leadership of Shaktikanta Das, who was appointed last December.Over two-thirds of 65 economists polled by Reuters predicted the
RBI to hold its repo rate at 6.50 per cent."The bulls continued to dominate, as the equity benchmark indices registered fifth straight
session of gains, largely on hopes of a dovish RBI monetary policy tomorrow," Jayant Manglik, president at Religare Broking said.Meanwhile,
sixteen of 19 sector gauges compiled by BSE ended higher led by the SP BSE Metal Index's 2.44 per cent gain
On the flipside, SP BSE Consumer Durables Index was top loser, down 0.39 per cent.The broader markets underperformed their larger peers as
the SP BSE MidCap Index fell 0.12 per cent while the SP BSE SmallCap Index ended little changed.Tech Mahindra was the top gainer from the
Nifty 50 basket of stocks
The stock surged 8 per cent to close at Rs 812 after its profit surpassed analysts' estimates in December quarter
Cipla, Zee Entertainment, Bajaj Finance and Tata Steel were also among the gainers
On the flipside, Adani Ports, IndusInd Bank, Dr
Reddy's Labs, Titan and Axis Bank were among the notable losers in Nifty 50 index.(With agency inputs)
