Millennium Post
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Sensex ends at 6-week high at 16,949.83

All round buying on expectation of rates cuts from the Reserve Bank of India [RBI], higher global cues and capital inflows from foreign into equity markets pulled up the BSE benchmark sensex by 272 points to a six-week high at 16,949.83.

Auto and banks stocks edged higher as the RBI is seen cutting its key policy rate viz. the repo rate by 25 basis points at mid-quarter monetary policy review on Monday, 18 June .

Shares of auto, banking, realty, capital goods, FMCG and metal sectors shot up on strong buying from operators and investors. power, teck, IT and healthcare care sectors also firmed up.

The BSE benchmark sensex resumed higher at 16,701.28 however in a range of 16,967.76 and 16,701.28 before ending at 6-week high at 16,949.83, showing a rise of 271.95 points or 1.63 per cent from its last close.

The NSE 50-share Nifty also shot up by 84.30 points or 1.67 per cent to end at 5,139.05. Foreign institutional investors [FIIs] bought shares worth a net Rs 105.08 crore on Thursday.
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