Market Momentum: RBI Monetary Stance and Blue-Chip Buying Propel Sensex and Nifty to Fresh Highs
MUMBAI — Domestic equity benchmarks staged an energetic rally during Thursday's trading session, propelled by heavy institutional buying across banking, consumer durables, and automobile majors. The 30-share BSE Sensex surged over 450 points, while the broader NSE Nifty 50 comfortably reclaimed the 24,650 threshold, reflecting sustained optimism regarding domestic macroeconomic stability.
Key Catalysts Powering the Benchmark Surge
- RBI Policy Continuity: Expectations that the Reserve Bank of India will maintain policy interest rates stable, preserving liquidity for corporate credit expansion.
- Banking Sector Outperformance: Top-tier lenders witnessed aggressive accumulation on expectations of healthy credit demand during the upcoming festive quarter.
- Cooling Bond Yields: Domestic 10-year sovereign bond yields softened toward 6.95%, boosting corporate debt valuations and equity sentiment.
