Equities Spurt As RBI Keeps Rates Unchanged, SBI Up 12 percent

Mumbai (Maharashtra) : The rally at bourses continued during early hours on Friday as the Reserve Bank of India (RBI) kept key interest rates unchanged.

At 10:15 am, the BSE S&P Sensex was up by 372 points or 0.74 per cent at 50,986 while the Nifty 50 edged higher by 84 points or 0.57 per cent to 14,980.

Sectoral indices at the National Stock Exchange were mixed with Nifty PSU bank jumping by 6.2 per cent and financial service by 1.6 per cent. But Nifty auto, FMCG, IT, metal and pharma were in the red.

Among stocks, government-owned State Bank of India moved up by 12.7 per cent to Rs 400.25 per share. Kotak Mahindra Bank ticked up by 2.4 per cent, Axis Bank by 2 per cent, HDFC Bank and IndusInd Bank by 1.5 per cent each.

The other major gainers were housing loan major HDFC, ONGC, Titan and Britannia.

However, Bharti Airtel dipped by 2.6 per cent to Rs 585 per share and Tata Motors skidded by 2.3 per cent. JSW Steel, Maruti Suzuki, Mahindra & Mahindra, Hero MotoCorp and Eicher Motors too traded with a negative bias.

Meanwhile, Asian shares were in the green with Japan's Nikkei gaining by 1.4 per cent. Hong Kong's Hang Seng index was up by 0.52 per cent and South Korea's Kospi by 0.28 per cent.