BSE Sensex Soars 350 Points To Reclaim 63,000-Mark

Indian equity markets closed higher for fourth day amid strong rally in shares of Britannia, Tata Consumer Products Ltd, BPCL, and Nestle on Wednesday. The 30-share BSE Sensex rallied 350 points or 0.56% to close at 63,146 while NSE Nifty jumped 127.4 points to settle at 18,726 on June 7.

The benchmark equity indices registered gains for fourth day amid fresh foreign fund inflows and mixed trend prevailing in world markets.

From the pack of Sensex, shares of Nestle, Tata Steel, Tata Motors, Bharti Airtel, Larsen & Toubro, Power Grid, NTPC, Tata Consultancy Services, Tech Mahindra, Axis Bank, BPCL, and Infosys emerged as the leading gainers.

Meanwhile, shares of Kotak Mahindra Bank, Maruti, Bajaj Finance, Mahindra & Mahindra and ICICI Bank emerged as the top losers of the day.

According to a PTI report, "Investors are becoming more optimistic due to the anticipation of a positive revision in the RBI's inflation forecast during the ongoing MPC meeting. It is expected that the RBI will maintain its pause on rate hikes, considering the significant improvement in inflation, which has now come within the RBI's comfort zone.

"Furthermore, the participation of FIIs as net buyers, after a brief halt, contributed to today's market rally, particularly driven by mid-and small-cap stocks," said Vinod Nair, Head of Research at Geojit Financial Services.

It is worth noting that Reserve Bank of India's rate-setting monetary policy panel has already started deliberations on Tuesday and the decision is expected to be declared on June 8.

It is worth mentioning that global oil benchmark Brent crude surged 0.10% to USD 76.45 a barrel.