Sensex closes 376 points up on upbeat global cues, Nifty settles at 7,949; Cairn, Idea gain over 6% -- 30 Sep 2015
The BSE Sensex and NSE Nifty gained over 1 per cent on Wednesday on upbeat global markets and the Reserve Bank of India's bigger-than-expected rate cut on Tuesday boosted market sentiment.
The BSE Sensex and NSE Nifty gained over 1 per cent following upbeat global markets. The sentiments also got a boost after Reserve Bank of India went for a bigger-than-expected rate cut on Tuesday. Sensex closed 376.17 points up at 26,154.83. Nifty advanced 105.60 points at 7,948.90.
In the 50-share index, Cairn India, Idea, Tata Steel, GAIL and Bharti Airtel gained between 4.50 per cent and 6.50 per cent. On the other hand, Bank of Baroda, Tech Mahindra, State Bank of India, Tata Power and Axis Bank slid between 1.30 and 2.15 per cent.
Domestic equity markets tracked other Asian markets that gained between 0.50 per cent and 3 per cent. European stocks also edged higher in early trade.
The RBI cut its policy interest rate to a 4-1/2 year low of 6.75 per cent on Tuesday and also allowed for steady increase in foreign investment limit in government securities.