RBI loan restructuring option, hike in gold LTV sees Sensex end 362 pts up

NSE's Nifty ended at 11,200, up 98.5 points or 0.89 per cent.

The domestic stock market ended around 1 per cent higher on Thursday after the Reserve Bank of India (RBI) decided to keep the benchmark repo rate unchanged at 4 per cent, and reverse repo rate at 3.35 per cent. Further, the central bank also announced measures to support NBFCs, HFCs, corporate debt market, and announced a relaxation on the loan-to-value (LTV) ratio for gold loans. READ MORE

The S&P BSE Sensex today ended 362 points or 0.96 per cent higher at 38,025 levels while NSE's Nifty ended at 11,200, up 98.5 points or 0.89 per cent. India VIX dropped nearly 2 per cent to 23.14 levels. 

Infosys, HDFC Bank, TCS, and ICICI Bank were the major contributors to the Sensex's gains. 

In the broader market, the S&P BSE MidCap index ended 0.77 per cent higher at 14,017 while the S&P BSE SmallCap index ended 1 per cent higher at 13,562 points. 

On the sectoral front, barring Nifty PSU Bank index, all the other sectoral indices on the NSE ended in the green. The Nifty Bank gained over 0.6 per cent while Nifty Realty rallied over 1 per cent. The Nifty IT index gained 1.8 per cent to 18,189 levels. 

Global markets 

Stocks slipped on Thursday as investors waited for signs of agreement on a US stimulus package, while the US dollar slumped to a two-year low on fears that the recovery in the world’s biggest economy was lagging others.

European stocks edged down in volatile trading, with Frankfurt gaining 0.2 per cent as investors digested a fresh batch of corporate earnings reports.

In commodities, oil prices slipped just below five-month highs, with support from a weak dollar and falling US crude inventories undermined by bearish sentiment about fuel demand.

Gold prices raced towards a record high as dismal US jobs data hammered the dollar and intensified worries about a recovery in the pandemic-ravaged global economy.

(With inputs from Reuters)