Sensex Surges 377 Points; Markets Await RBI Monetary Policy

Updated: Monday, October 3, 2016, 15:38 [IST]

Benchmark indices surged in trade, as markets ignored the cross border skirmishes and rallied, as global cues remained strong.

Sensex Surges 377 Points; Markets Await RBI Monetary Policy

The Sensex, which began slightly tentatively in the first 15 minutes of trade, saw a huge rally through the day, on sustained buying support.

The Sensex ended the day with gains of 365 points, while the Nifty rallied 126 points in trade. Leading the set of gainers in trade were stocks like Maruti, which surged to a new lifetime high following superb numbers for the month of Sept.

In fact, today's rally was largely led by auto stocks, including Hero Motor Corp, Mahindra and Mahindra and Tata Motors.

Shares in IT stocks were very subdued with Infosys and TCS ending the day flat.

Jubilant Life was the star performer in trade after the company received the US FDA nod for RUBY-FILL-Rubidium 82 generator & Elution system. The stock ended the day higher by 6 per cent in trade at Rs 653.

Inox Wind also saw good buying support after the company won a repeat order for supply & installation of 350 MW from customers. The stock ended the day higher by 4.5 per cent at Rs 209, on sustained buying support.

Meanwhile, markets across the globe were trading higher, led by the Asian markets. The rupee was trading firm at 66.56 to the US dollar.

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