Sensex pulls 332 pts higher ahead of RBI meet, on global cues

Stock markets after a long weekend

started the day today with a bang as the Sensex surged 332

points and the Nifty was back on top of 9,800 on optimistic

buying ahead of RBI policy review.

Looking good for the third day, the 30-share index

advanced 331.56 points, or 1.05 per cent, to 31,615.28. Auto,

metal, consumer durables and realty stocks hit a sweet spot.

The gauge had gained 123.91 points in the previous two

sessions.

The NSE Nifty perked up 106.80 points, or 1.09 per cent,

to 9,895.40.

The central bank's 2-day monetary policy review kicks off

today and the decision is due tomorrow. This has led to

unabated buying by domestic financial institutions, which

added to the positive mood.

Rate-sensitive auto stocks made buyers sit up and take

note amid encouraging September sales data.

Tata Motors was trading higher by 4.90 per cent at Rs

420.90 and Bajaj Auto was up 1.89 per cent at Rs 3,167 while

M&M gained 1.38 per cent to Rs 1,271.

Firm Asian cues reflecting a rally on Wall Street, where

all three US indices hit new records following strong economic

data, made investors here loosen their purse strings.

US manufacturing activity in September rose to its highest

level in 13 years. The deadliest mass shooting in US history,

however, brought in a sense of caution, traders said.

Other gainers that supported the key indices include

Asian Paints, Tata Steel, Dr Reddy's, Reliance Industries,

NTPC, ONGC and Infosys.

Among other Asian markets, Hong Kong's Hang Seng was up

1.62 per cent while Japan's Nikkei surged 0.77 per cent in

early session today. Financial markets in China are closed

today for a public holiday.

US Dow Jones Industrial Average ended 0.68 per cent

higher yesterday.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)