Dovish RBI monetary policy cheers bulls as markets march high for third straight day

Mumbai: Equity benchmarks defied gravity for the third session on the trot on Thursday after the RBI left interest rates unchanged but retained its accommodative policy stance to support the post-pandemic economic recovery.

A positive trend in global stocks also supported the domestic markets, traders said.

Overcoming a wobbly start, the 30-share BSE Sensex settled 460.06 points or 0.79 per cent higher at 58,926.03. Likewise, the broader NSE Nifty jumped 142.05 points or 0.81 per cent to end at 17,605.85.

Tata Steel was the top gainer in the Sensex pack, spurting 2.11 per cent, followed by Infosys, HDFC Bank, HDFC, Kotak Bank, M&M and PowerGrid.

Only four stocks closed in the red — Maruti, Ultratech Cement, Nestle India and Reliance Industries, dipping up to 1.64 per cent.

Barring capital goods, all BSE sectoral indices logged gains, led by power, metal, bankex, finance, utilities and IT.

The BSE midcap and smallcap gauges rose up to 0.30 per cent.

Meanwhile, international oil benchmark Brent crude inched up 0.08 per cent to $91.62 per barrel.

The rupee declined by 10 paise to close at 74.94 against the US dollar on Thursday.