Global cues lift Indian equity indices

mumbai — Positive global cues and healthy buying support for banking, capital goods and metal stocks lifted the key indices of the Indian equity market on Thursday.

Index-wise, the 30-scrip Sensitive Index (Sensex) provisionally closed higher by 284.2 points or 0.81 per cent.

The wider 50-scrip Nifty of the National Stock Exchange (NSE) also settled in the positive territory. It gained 83.7 points or 0.78 per cent to provisionally close at 10,768.35 points.

The S&P BSE Sensex, which opened at 35,278.38 points, provisionally closed at 35,463.08 points, 284.2 points or 0.81 per cent higher from the previous day’s close at 35,178.88 points.

The Sensex touched a high of 35,628.49 points and a low of 35,278.38 points during the intra-day trade.

The Indian central bank’s decision to hike repo rate by 25 basis points on Wednesday has boosted investors’ sentiments.

Following a cycle of rate cuts begun in January 2015, the RBI on Wednesday raised its key interest rate for the first time by 25 basis points to 6.25 per cent.

“Indian equity markets opened in a positive mood and are trading higher after the Monetary Policy Committee hiked repo rates by 25 bps to 6.25 per cent, for the first time in four years, while maintaining a neutral stance,” said Dhruv Desai, director and chief operating officer at Tradebulls.

“The reverse repo rate under the liquidity adjustment facility [LAF] stands adjusted to six per cent and the marginal standing facility [MSF] rate and the Bank Rate to 6.50 per cent,” the RBI said.