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Sensex, Nifty Close Higher For Fourth Straight Session

The BSE Sensex and NIFTY rose for the fourth session in a row but capped gains as investors turned cautious ahead of Reserve Bank of India’s three-day policy meet.

The shares of HDFC Bank, IndusInd Bank and Maruti Suzuki were depreciated.The BSE Sensex rose 0.09 per cent or 34 points to 36,617 and the NSE Nifty 50 Index advanced 0.2 per cent or 22 points to 10,934.

According to the reports of analysts, the Reserve Bank of India (RBI) would hold its repo rate, a surprise change of stance following the appointment of Shaktikanta Das as the central bank chief in December. The central bank will start its three-day policy meet later in the session.

Sensex
Sensex | Business News

The ‘neutral’ stance would be in line with Prime Minister Narendra Modi-led Bharatiya Janata Party’s aim for a stimulative monetary policy ahead of national elections in May.

The official also said that it is mandatory for  Reserve Bank of India to control price pressures, which historically have been difficult to tame in India.

Fourteen of 19 sector gauges compiled by BSE ended lower led by the S&P BSE Realty Index’s over 2 per cent decline. On the other hand, the BSE INDEX and BSE Consumer Durables Index was the top gainer, up 1.5 per cent.

Mid- and small-cap shares underperformed their larger peers as the S&P BSE MidCap Index fell 0.54 per cent and the S&P BSE SmallCap Index declined 0.9 per cent.

Zee Entertainment was the top gainer from the Nifty 50 basket of shares, it rose 5 per cent to Rs.365. Titan, UPL, Dr Reddy’s Labs and Her MotoCorp were also among the gainer.

On the other hand, Coal India was the top loser, down 2.8 per cent to Rs. 216. Tata Motors, Tata Steel, Yes Bank and ONGC also ended with losses.

The overall market breadth was bearish as nearly 1,700 shares ended lower while a little over 850 shares ended higher on the BSE.

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