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Sensex jumps 150 pts ahead of RBI policy outcome
BSE benchmark Sensex jumped over 150 points in early trade Thursday on sustained buying by domestic and foreign institutional investors, ahead of RBI's policy outcome later in the day.
Mumbai: BSE benchmark Sensex jumped over 150 points in early trade Thursday on sustained buying by domestic and foreign institutional investors, ahead of RBI's policy outcome later in the day.
The 30-share index was trading 161.53 points, or 0.44 per cent, higher at 37,136.76. Similarly, the 50-share NSE Nifty rose 33.05 points, or 0.30 per cent to 11,095.50.
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On Wednesday, the Sensex soared 358.42 points, or 0.98 per cent, to close at 36,975.23; and the broader Nifty jumped 128.10 points, or 1.17 per cent, to 11,062.45.
The RBI's Monetary Policy Committee (MPC) is scheduled to announce its policy decision later in the day.
"Decline in rates will reduce the cost of capital and potentially fuel rally in equity markets," he stated.
On a net basis, foreign portfolio investors (FPIs) bought shares worth a net of Rs 694.97 crore Wednesday, and domestic institutional investors (DIIs) were net buyers to the tune of Rs 525.26 crore, provisional data available with BSE showed.
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The rupee, meanwhile, depreciated 10 paise against US dollar to 71.66. The benchmark Brent crude futures slipped 0.27 per cent to USD 62.52 per barrel. (PTI)