Markets rally after RBI retains status quo on policy rates, financial & auto stocks shine

Mumbai: Benchmark equity indices Sensex and Nifty rallied for a second straight session on Friday after the Reserve

Bank maintained the status quo on policy rates, resulting in gains for rate-sensitive sectors like financial, realty and auto.

A firm trend in Asian and European markets also bolstered the investors’ sentiment, traders said.

The 30-share BSE Sensex climbed 364.06 points or 0.55 per cent to settle at 65,995.63. During the day, it jumped 464.24 points or 0.70 per cent to hit 66,095.81.

The Nifty advanced 107.75 points or 0.55 per cent to end at 19,653.50.

On the weekly front, the BSE benchmark climbed 167.22 points or 0.25 per cent, and the Nifty was up 15.2 points or 0.07 per cent.

Among the Sensex firms, Bajaj Finserv jumped nearly 6 per cent, and Bajaj Finance climbed nearly 4 per cent. Titan surged 2.98 per cent, followed by IndusInd Bank, ITC, JSW Steel, Infosys, Tech Mahindra, Tata Consultancy Services and Maruti.

Hindustan Unilever, Asian Paints, Bharti Airtel and HDFC Bank were among the laggards.

In the broader market, the BSE midcap gauge jumped 0.66 per cent and smallcap index climbed 0.56 per cent.

Among the indices, realty rallied 3.01 per cent, consumer durables jumped 1.47 per cent, services (1.12 per cent), IT (0.71 per cent) and consumer discretionary (0.63 per cent).

Telecommunication emerged as the only laggard.

The rupee appreciated 4 paise to settle at 83.21 against the US dollar on Friday amid positive equity markets as the Reserve Bank kept the repo rate unchanged in its fourth consecutive monetary policy review.

Global oil benchmark Brent crude declined 0.02 per cent to $83.94 a barrel. Foreign Institutional Investors (FIIs) offloaded equities

worth Rs 1,864.20 crore on Thursday, according to exchange data.