Sensex jumps 275 pts, Nifty up 91 pts as RBI hikes rate, Tomorrow stock tips

Share market ended in green following the outcome of RBI's bi-monthly policy meet on Wednesday. The BSE index surged 275.67 points to close at 35,178.88, while the NSE Nifty also went up by 91.50 points to 10,684.65. 

The 6-member MPC of the RBI increased the repo-rate under the liquidity adjustment facility by 25 bps, on inflation concerns arising from rise in international oil prices. 

Consequently, the reverse repo-rate under the under the liquidity adjustment facility stands adjusted to 6.0%, and the marginal standing facility rate and the Bank Rate to 6.50 percent. 

The announcement by the RBI geared up the market, led by banking, automobile and midcaps stocks. The Nifty midcap-50 index rose 1.29 percent with all other sectoral indices ended in the green zone. 

Bharti Airtel, Titan, Tata Motors, Sun Pharma and Bajaj Finance were the top gainers on NSE, while HPCL, Tech Mahindra, Cipla, Gail India and Asian Paints lost the most. 

In effect on Central Bank’s decision to hike interest rates, sectorally banking, automobile and real estate stocks went up. Bank Nifty index rose 0.4 percent while PSU index soared 2.5 percent. Nifty Auto and realty were also higher by over a percent.