Markets End Higher for Fourth Straight Day On Strong Global Cues

Benchmark indices ended the day higher for the fourth straight day, more than recouping the losses of the Budget day.

Global cues were exceedingly strong, and one of the reasons that pushed the benchmark indices higher.

Asian indices jumped in trade, as worries over the Caronavirus began to fade. The Japanese Nikkei, The Shanghai Composite and the Hong Kong's Hang Sang saw very good gains in trade. European markets too were trading higher as the S&P 500 Futures pointed to higher gains of 0.50 per cent, after having hit a record in trade on Wednesday. The Sensex ended the day with gains of 163 points at 41,306 points, while the Nifty gained 49 points in trade.

Leading the set of gainers from the Nifty were stocks like IndusInd Bank, which rallied more than 4 per cent. Yes Bank and State Bank of India were the other gainers. A big winner was also Zee Entertainment, which jumped 4 per cent, after a 14 per cent fall in the last two trading sessions.

Meanwhile, the RBI Monetary Policy was largely uneventful. The Monetary Policy Committee decided to hold interest rates steady, as was largely expected. This barely had an impact on the stock markets, which are largely moving on the basis of global cues.