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Sensex rallies 327 pts post RBI policy outcome; extends gains for 7th day

Equity benchmark index Sensex rallied 327 points on Friday, extending gains for the seventh straight session on the back of financial stocks after the RBI left benchmark rate unchanged but decided to maintain an accommodative stance.RBI Governor Shaktikanta Das'' comments on expectation of GDP turning positive in the January-March quarter of the current financial year also fuelled the market rally, traders said. The 30-share BSE index ended 326.82 points or 0.81 per cent higher at 40,509.49 while the broader NSE Nifty rose by 79.60 points or 0.67 per cent to 11,914.20. ICICI Bank was the top gainer in the Sensex pack, rising around 3 per cent, followed by Axis Bank, HDFC twins, SBI, L&T, ONGC and Infosys. On the other hand, Sun Pharma, Asian Paints, Nestle India, UltraTech Cement and HUL declined. Rate-sensitive banking and financial stocks ended on a positive note, with BSE bankex and finance rising up to 2.64 per cent, while realty and auto indices closed in the red. While announcing the MPC decisions, RBI Governor Shaktikanta Das said the benchmark repurchase (repo) rate has been left unchanged at 4 per cent.

News source ~ Out Look India