Stock Markets Rise Ahead of Key RBI Announcement
Investors were feeling optimistic in early morning trading as major indices climbed higher today. Traders will be closely watching the upcoming monetary policy decision from the Reserve Bank of India that is scheduled to be released later today.
The benchmark BSE Sensex index gained over 250 points to reach 75,329. Technology and banking stocks contributed most to the gains, with sector leaders Wipro, Infosys, and HDFC Bank among the top performers. The broader Nifty 50 also rose, climbing nearly 100 points to trade at 22,921.
This represents the third consecutive session of positive momentum on the exchanges after a sharp sell-off earlier in the week. Market participants will be keenly focused on any potential changes to the RBI’s key interest rates or economic projections. The central bank has maintained the repo rate at 6.5% for the past several reviews, but economists are split on expectations for further hikes.
Buying interest was broad-based, with IT, metals and financial services companies attracting bulk of the buying orders. Some blue-chip names like ITC and L&T witnessed mild profit booking. Overall trading volumes were higher than usual ahead of the all-important policy announcement, which could provide cues on the future path of monetary policy stance.
