Sensex surges 352 points on all-round buying

The Reserve Bank of India is widely expected to keep policy rates on hold but investors will watch for any hints of a cut at the February meeting in the policy statement to be released on Wednesday

Sensex ends lower ahead of RBI's monetary policy decision

The benchmark Sensex on Friday pierced through the 33,000-mark amid heavy buying by cash-rich domestic institutions and strong overseas cues. The sentiment also remained upbeat as United States markets settled higher overnight and opinion polls suggesting BJP may see easy win in Gujarat elections that kicks off on Saturday.

The 30-share Sensex stayed in the green throughout and hit the day's high of 32,992.45 following all-round buying. Fear gauge India VIX ease 3 percentage points to 13.86.

The broader Nifty too was trading above the key 10,200- level, up by 81.65 points or 0.80 per cent at 10,248.35. The BSE FMCG index topped with a robust 2.23 per cent rise, followed by metal 1.36 per cent, healthcare 1.35 per cent, consumer durables 1.15 per cent, oil & gas 1.02 per cent, auto 0.97 per cent, bankex 0.92 per cent and realty 0.72 per cent.

The BSE market breadth was bullish - 1,582 advances and 1,110 declines. Domestic institutional investors bought shares worth Rs 995.11 crore, while foreign funds sold shares to the tune of Rs 1,217.92 crore on Wednesday, provisional exchange data showed.

Sensex ends lower ahead of RBI's monetary policy decision

Sun Pharma, BPCL, IOC, ITC and HPCL climbed 3-4 percent in the Nifty pack, while SBI, Reliance Industries, Zee Entertainment Enterprises, GAIL and Infratel lost 1-2 percent.

Major gainers on the Nifty were: UPL (+1.81%), Tata Motors (+1.79%), Bharti Airtel (+1.42%), Adani Ports (+1.31%) and IndusInd Bank (+1.31%).

Gold prices drifted lower by 0.27 percent to Rs 28,589 per 10 grams in futures trade today as participants cut their bets amid a weak global trend. Japan's Nikkei advanced 1.45%, Hong Kong's Hang Seng went up 0.29%, while China's Shanghai Composite Index surrendered 0.67%. London's FTSE was up 0.27%.

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