Markets extend winning run on RBI stance; Rs up 7 paise to 71.18 against $

Mumbai: Equity indices marched higher for the fourth session on the trot on Thursday after the RBI left the policy rates unchanged but maintained its accommodative stance to shore up growth.

The 30-share BSE Sensex settled 163.37 points, or 0.40 per cent, higher at 41,306.03. The broader NSE Nifty rose 48.80 points, or 0.40 per cent, to 12,137.95. Rate-sensitive financial, banking and auto stocks rallied, with BSE Finance spurting up to 1.21 per cent. However, realty settled in the red.

IndusInd Bank was the top gainer in the Sensex pack, climbing 4.85 per cent, followed by SBI, Bajaj Finance, Bharti Airtel, HDFC, Axis Bank and Hero MotoCorp.

On the other hand, Infosys, Titan, ITC, Kotak Bank and Asian Paints slipped up to 1.73 per cent. Broader BSE midcap and smallcap indices rose up to 0.81 per cent. Global markets darted up after China slashed tariffs on some US imports. Bourses in Shanghai, Hong Kong, Tokyo and Seoul settled up to 2.88 per cent higher.

Stock exchanges in Europe too opened on a positive note.

Meanwhile, Brent crude oil futures advanced 0.25 per cent to $55.42 per barrel. On the currency front, the rupee rose by 7 paise to close at 71.18 against the US dollar after the RBI left the policy rates unchanged but maintained its accommodative stance to boost growth. At the interbank foreign exchange market, the local currency opened on a positive note at 71.22. During the day, it saw a high of 71.11 and a low of 71.30.

The dollar index, which gauges the greenback's strength against a basket of six currencies, rose by 0.03 per cent to 98.32.