Markets rise for 5th session in row as financial shares advance on Reserve Bank policy decision

Mumbai: Benchmark indices Sensex and Nifty closed higher on Thursday, extending the winning streak to the fifth straight session after the RBI unexpectedly kept policy rates unchanged as global banking woes added uncertainty to the economic outlook.

Buying in index majors HDFC Bank and Reliance Industries also added to the optimism in the equity

market.

Bouncing back from early fall, the 30-share BSE Sensex rose by 143.66 points or 0.24 per cent to settle at 59,832.97. During the day, it advanced 260.75 points or 0.43 per cent to 59,950.06.

The broader NSE Nifty gained 42.10 points or 0.24 per cent to finish at 17,599.15 after falling in initial trade.

Among the Sensex firms, Bajaj Finance emerged as the biggest gainer by climbing 2.95 per cent. Tata Motors, Bajaj Finserv, IndusInd Bank, Sun Pharma, Mahindra & Mahindra, State Bank of India, Larsen & Toubro, HDFC, HDFC Bank, Maruti, Reliance Industries and Bharti Airtel were the other major winners.

HCL Technologies, Axis Bank, ICICI Bank, Tech Mahindra and Titan were among the laggards.

In Asian markets, Seoul, Japan and Shanghai ended lower, while Hong Kong settled in the green. European equity markets were trading in positive territory during the afternoon trade. The US markets ended mostly lower on Wednesday.

The rupee pared initial losses and settled 12 paise lower at 82.02 against the US dollar on Thursday after the

RBI decided to keep the key benchmark policy rate at 6.5 per cent.