The Reserve Bank's two-day monetary policy review kicked off today. The BSE Sensex rose 217.28 points to 33,166.49 while the NSE Nifty jumped 69.25 points to 10,235.95 in morning. The 30-share index declined by 205.26 points, or 0.63 percent, to 32,597.18 after hitting a low of 32,565.16 soon after the central bank announced its policy decision. The broader Nifty index was up 49 points or 0.48 percent at 10,215.
Trading mood was also impacted as Fitch Ratings on Monday cut the country's GDP growth forecast for the current fiscal to 6.7 per cent from the earlier projected 6.9%.
"On the macro front upcoming RBI policy and Gujarat state election will be an influential factor for investors which is steering the market to consolidate", said Vinod Nair, Head of Research, Geojit Financial Services. Meanwhile, foreign portfolio investors (FPIs) sold shares worth a net Rs 1,470.56 crore, while domestic institutional investors (DIIs) bought to the tune of Rs 1,074.39 crore yesterday, as per provisional data released by the stock exchanges.
Top gainers in the Nifty 50 included Bharti Airtel, Maruti Suzuki India, Vedanta, Tata Motors, IndusInd Bank, Hindalco Industries and Adani Ports - up between 1.6 per cent and 3 per cent.
Clashes continue as Israel strikes Gaza militant posts after rockets fired
Around two hours later the army said that another rocket, fired form the enclave's north, exploded in southern Israel. After the assault from Gaza, Israeli jets targeted military sites belonging to Hamas and Islamic Jihad.
Friday's rally has so far been structurally similar to that of Thursday's with the metal and PSU bank stocks gaining the most. The broader markets remained under pressure, with the small-cap index falling by 0.52% and mid-cap 0.09%.
Japan's Nikkei led the way as the yen eased on the dollar, rising 1.1 per cent on top of Thursday's 1.45 per cent bounce to be nearly back where it started the week.
European markets too saw a weak trend. Shanghai Composite Index, however, shed 0.52 per cent.
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