Sensex paints gloomy picture before RBI policy, falls 100 points

Hero MotoCorp Wipro Tata Steel and NTPC were among the top losers

As the Nifty consolidated itself above 10,100-mark through the day, stock market saw a fresh spell of positive sentiment with Sensex gaining more than a 100 points in the last hour of trading.

The Sensex of the BSE after opening at 32,798.50 points touched a high of 32,804.75 and a low of 32,702.37 points.

The index had lost 205 points yesterday after the Reserve Bank held the policy rate and raised the inflation forecast for the remainder of the fiscal.

The NSE Nifty opened higher at 10,063.45 and moved in a range of 10,182.65 and 10,061.90, before ending at 10,166.70, up by 122.60 points, or 1.22 percent - its highest closing since November 30, 2017.

Investors were awaiting RBI policy outcome due later in the day during market hours, a broker said.

Stocks of state-run oil marketing companies such as HPCL, BPCL and International Olympic Committee recorded gains of up to 1.83 per cent after global crude prices dropped by almost three per cent to trade below $63 a barrel.

Senate moves closer to vote on sweeping tax-reform bill
But his vote probably won't matter: Even without Corker, Republicans appear to have the votes they need to pass the bill anyway. Daines reached an agreement with leadership to raise the amount of pass-through income business owners can deduct.

Indian shares rose sharply on Thursday as firm global cues and a steep fall in oil prices overnight spurred investors to go bargain hunting after last week's heavy losses.

GAIL (+8.5%), Airtel (+7%), UPL (+5%), Tech Mahindra (+5.1%), Airtel (+4.7%) and Asian Paints (+3.5%) were the top gainers on the Nifty50.

On the other hand, Bajaj FinanceBSE 1.71 %, YES BankBSE 1.76 %, Reliance IndustriesBSE 1.11 %, BPCLBSE 0.78 % and IndusInd BankBSE 0.93 % climbed between 1.15 per cent and 2.30 per cent.

Out of 1,989 stocks traded on the NSE, 1,219 advanced, 474 declined and 296 remained unchanged today.

Value buying: Some low-level buying supported benchmark equity indices on Thursday.

Major Asian indices closed higher. London's FTSE too was up 0.24 per cent.

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