Mumbai : Domestic indices, which were up backed by positive global trend, extended early gains due to the Reserve Bank of India’s status quo on policy rates, and its forecast of higher growth and lower inflation boosted sentiment, and posted their best day in 2018.
The BSE Sensex ended at 33,596.80, up 577.73 points, or 1.75 per cent, its biggest single day gain since March 12 when it had rallied 610.80 points. The gauge had lost 351.56 points in the previous session.
The NSE Nifty settled 196.75 points, or 1.94 points higher at 10,325.15.
The markets also cheered the ‘normal” southwest monsoon forecast by private weather forecasting agency Skymet.
Positive global cues as trade war worries between the US and China faded too bolstered trading sentiment.
Banking stocks also extended gains after the RBI deferred the implementation of Ind-AS accounting standard for the sector by a year to 2019-20.