Sensex up 70 points ahead of RBI policy meet
The benchmark BSE Sensex rose over 70 points in early trade on Tuesday as funds and investors made fresh buying ahead of the RBI’s bi-monthly policy review. The 30-share barometer gained 70.89 points, or 0.29 per cent, to 24,755.74 with stocks of consumer durables, metals, IT, realty, oil and gas and power sectors leading the rise.
The Sensex had gained 467.51 points in the previous session on the back of slight improvement in HSBC Indian Manufacturing Purchasing Manager’s Index (PMI), a measure of factory production in May.
The wide-based National Stock Exchange (NSE) index Nifty moved up by 15.75 points, or 0.21 per cent, to 7,378.25. Brokers said increased buying by participants before the Reserve Bank of India’s bi-monthly monetary policy review today boosted the sentiments.
Besides, a firming trend on the other Asian markets also supported the upside, they said. In the Asian region, Hong Kong’s Hang Seng index gained 0.90 per cent and Japan’s Nikkei was up by 1.03 points in early trade today. The US Dow Jones Industrial Average ended 0.16 per cent higher in the previous session.