Money on the markets
A maturing market amid the mayhem
The Sensex seesawed in early trade today but managed to close 0.57 percent higher, tracking gains in Asian and European markets.
Reliance Industries, ICICI, L&T and Tata Steel led the benchmark. Tata Steel was also the top index gainer, closing 7.7 percent higher.
Among sectors, the BSE Realty Index led with gains of 5.4 percent, followed by the Banking Index which was up 2.6 percent. The BSE FMCG index was among the top loser.
The BSE Sensex shrugged off the RBI decision to keep rates steady and closed 3.8 percent higher as gains in global markets triggered short covering ahead of the expiry of monthly derivatives.
In today’s policy review, the Reserve Bank left its lending rate steady at 5.5 percent and its reverse repo rate unchanged at 4.0 percent at its policy review on Tuesday. It has also kept the cash reserve ratio unchanged at 5.00 percent.