Indian shares ended notably higher on Thursday as traders reassessed the path of U.S. interest rates.
A dip in global bond yields and weakness in the dollar index helped underpin sentiment as investors awaited the RBI’s MPC rate decision on Friday.
Economists expect RBI governor Shaktikanta Das to pause the repo rate for the fourth-consecutive policy meeting after aggressive rate hikes by 250 basis points cumulatively from May last year until February 2023.
Softening crude oil prices also eased investor concerns around inflation and interest rates.
Oil prices were down around 1 percent today after having settled down more than $5 on Wednesday on concerns about the demand outlook.
The benchmark S&P BSE Sensex ended the session up 405.53 points, or 0.62 percent, at 65,631.57.
The broader NSE Nifty index settled 109.65 points, or 0.56 percent, higher at 19,545.75, led by IT and auto stocks.
TCS, Titan Company, Mahindra & Mahindra, Larsen & Toubro and Bajaj Auto rallied 1-2 percent in the Nifty pack while Power Grid Corp led losses to end 1.2 percent lower.
Market Analysis
Sensex, Nifty Rise As Bond Yields Ease, Oil Prices Plunge
2023-10-05 10:26:02
