Mumbai– Indian equity markets rebounded sharply on Wednesday, snapping an eight-day losing streak after the Reserve Bank of India’s Monetary Policy Committee (MPC) left the repo rate unchanged at 5.5 percent and raised its GDP growth forecast for FY26 to 6.8 percent, up from its earlier estimate of 6.5 percent.
The upbeat announcement, combined with robust automobile sales data for September, fueled heavy buying across sectors and lifted investor sentiment.
The Sensex ended the day at 80,983.31, up 715.69 points or 0.89 percent. The 30-share index had opened slightly lower at 80,159.90 against the previous close of 80,267.62 but quickly turned positive and rallied sharply following the RBI’s policy outcome, hitting an intraday high of 81,068.43.
The Nifty 50 closed at 24,836.30, climbing 225.20 points or 0.92 percent.
“Nifty closed Wednesday’s session with a strong bullish candlestick after the RBI policy outcome and auto sales data, reclaiming levels above its 100-day EMA at 24,750, which earlier acted as resistance,” analysts noted.
Among the Sensex heavyweights, Tata Motors, Kotak Bank, Trent, Sun Pharma, Axis Bank, ICICI Bank, Tech Mahindra, HDFC Bank, Adani Ports, Mahindra & Mahindra, Titan, TCS, ITC, BEL, and Hindustan Unilever led the gains. Bajaj Finance, Ultratech Cement, SBI, and Asian Paints ended lower.
Sectoral indices reflected the bullish momentum. Nifty Bank surged 712 points or 1.30 percent, Nifty Financial Services jumped 360 points or 1.38 percent, Nifty Auto climbed 226 points or 0.85 percent, Nifty FMCG gained 394 points or 0.72 percent, and Nifty IT advanced 250 points or 0.74 percent.
Broader markets also joined the rally. Nifty Smallcap 100 rose 193 points or 1.10 percent, Nifty Midcap 100 gained 500 points or 0.89 percent, Nifty 100 advanced 207 points or 0.82 percent, and Nifty Next 50 added 242 points or 0.36 percent. (Source: IANS)
