Sensex rallies over 200 points, Nifty nears 10,750 after RBI rate hike

At 10 am, the BSE Sensex gauge was trading 223.42 points or 0.64% higher at 35,402.30, while the broader NSE Nifty was up 62.25 points or 0.58% to 10,746.90.

Taking a cue from the global markets, key Indian equity indices on Thursday opened higher after the Reserve Bank of India raised its key interest rate by 25 basis points (bps) to 6.25%

The BSE Sensex, which had closed at 35,178.88 points on Wednesday, opened higher at 35,278.38 points.

At 10 am, the 30-share strong gauge was trading 223.42 points or 0.64% higher at 35,402.30, while the broader NSE Nifty was up 62.25 points or 0.58% to 10,746.90.

The Reserve Bank’s “neutral” stance on a future rate hike trajectory, along with its reform measures for the realty, bond and banking sectors, had pushed the key indices of the Indian equity market higher on Wednesday.

According to analysts, investors’ risk taking appetite was also enhanced on the back of positive global markets and a strengthened rupee.

The BSE Sensex had gained 275.67 points or 0.79% in Wednesday’s trade. The NSE Nifty, too, was up by 91.50 points or 0.86%.

Overnight, the Nasdaq closed in green, up by 0.67% while the FTSE 100 was also up by 0.33% at the closing on Wednesday.