Sensex, Nifty open in green ahead of monetary policy announcement

Sensex surges 527 points as RBI keeps rate unchanged; lowers inflation forecast

Key indices opened on a colourless note then soon turned into red.

President Donald Trump on Thursday directed United States trade officials to identify tariffs on $100 billion more Chinese imports, upping the ante in an already high-stakes trade confrontation between the world's two largest economies.

A firm trend in other Asian markets and overnight gains on Wall street buoyed the trading sentiments here.

The barometer 30-scrip Sensitive index (Sensex) of the BSE, which opened at 33,289.96 points, closed at 33,596.80 points - up 577.73 points or 1.75 per cent from its previous session's close.

At the National Stock Exchange (NSE), the broader 51-scrip Nifty, which had closed at 10,128.40 points on Wednesday, was quoting at 10,244.15 points, up by 115.75 points or 1.14 per cent.

Woman arrested after allegedly shooting at Mid City home, police say
Officer Charley Davidson the officer was patrolling on a bicycle when he saw the suspect point a gun at him and run off. Zainuddin said police managed to arrest the suspect from his home in Air Meleleh, Kerling about 5.30pm on March 27.

Bank and metal stocks hogged the limelight right through the session. Realty, capital goods, information technology, consumer durables and automobile stocks also had a good outing.

The market breadth, indicating the overall health of the market, was positive. The jobless rate probably fell in March after holding at 4.1% for five straight months. It was followed by IDBI Bank (7.94 million), Unitech (5.26 million) and Jaiprakash Associates (4.13 million).

The outcome of the MPC meeting is being keenly awaited by stakeholders amidst pressure on RBI to cut interest rates in the wake of declining retail inflation and the need to fuel growth momentum.

HDFC Bank's chief economist Abheek Barua, however, feels that it was "an unexpectedly dovish policy with the RBI highlighting inflation risks (oil, procurement prices, HRA for government employees) but at the same time revising their forecasts downward".

Citing revival in investment activity and global demand, the central bank said that several factors will help accelerate the pace of economic activity in 2018-19.

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