Sensex soars 685 points, Nifty jumps 220 in Tuesday's rally
The BSE Sensex surged 685.34 points to close at 73,067.81 on Tuesday, while the Nifty 50 jumped 220.35 points to 22,776.10 — a second straight session of gains — even as IT stocks lagged ahead of Wednesday's RBI policy decision.
The rally gave Indian equities a second consecutive winning session, extending Monday's rebound that had already snapped a four-session slide. Breadth improved across most sectors, though the IT pack underperformed as investors braced for Wednesday's monetary policy outcome.
The consensus going into the RBI's monetary policy committee meeting is a 25-basis-point hike to 5.50% — which would be the central bank's first rate increase since February 2023, a sharp turn after a long cutting cycle.
Attention now shifts entirely to the policy statement: markets will parse every word for how far the RBI is willing to go against sticky inflation, and what it means for growth in the second half of the fiscal year.
