Mumbai— Indian stock markets ended in positive territory on Thursday, with investors awaiting the Reserve Bank of India’s Monetary Policy Committee (MPC) decision on interest rates.
The Sensex rose 443.79 points, or 0.55%, to close at 81,442.04, while the Nifty gained 130.70 points, or 0.53%, to finish at 24,750.90.
Analysts expect RBI Governor Sanjay Malhotra to announce a 0.25% cut in the repo rate on Friday as inflation stabilizes and liquidity concerns ease.
Midcap and smallcap indices also advanced, with the Nifty Midcap 100 climbing 378.35 points (0.65%) to 58,303 and the Nifty Smallcap 100 rising 175.50 points (0.96%) to 18,432.60.
Sector-wise, IT, financial services, pharma, FMCG, metals, realty, and energy stocks ended in the green. However, auto, PSU banks, media, and private banks posted losses.
Sundar Kewat of Ashika Institutional Equity noted that the market traded in a tight range as investors remained cautious ahead of the policy announcement. Global cues, including softening U.S. Treasury yields and a weaker dollar, offered some support despite ongoing U.S.-China trade tensions.
Technical charts suggest further upside, with analysts pointing to a “golden crossover” on the Nifty’s daily chart—a bullish indicator signaling potential short-term gains.
“Nifty continues to hold support at 24,500. Unless this level is breached, a major correction seems unlikely,” said Rupak De of LKP Securities. “We could see a steady or even sharp recovery in the near term.”
Meanwhile, the Indian rupee appreciated, supported by renewed risk appetite and foreign inflows, alongside gains in other Asian currencies.
“Markets are already factoring in a possible rate cut. The rupee’s future will now hinge on the RBI’s stance and any accompanying liquidity measures,” said Dilip Parmar of HDFC Securities. (Source: IANS)
