Stock Market Closing Bell: Sensex, Nifty cheer RBI Credit Policy announcements; SBI, Wipro shares gain

Stock Market Closing Bell: On account of RBI Governor Shaktikanta Das' brave annnouncements and not bowing down to the inflation pressure, the Indian indices rose sharply and ended around 0.75 per cent higher from its Thursday close. This was seventh straight closing on the positive note for the Indian stock market. The BSE Sensex shot up 349 points and closed at 40,532 levels while the NSE Nifty gained 79 points after making a close at 11,914 mark. Bank Nifty surged 655 points after closing at 23,846 levels.

Speaking on the current market trends Sanjiv Bhasin, Director at IIFL Securities said, "The market is highly bullish and we will soon witness 12,000 levels at NSE Nifty. Bank Nifty will also go up to 24,500 mark."

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Shares of Parag Milk Foods, Lakshmi Vilas Bank, LIC Housing Finance, Repco Home Finance, PNB Housing Finance, Can Fin Homes, GIC Housing Finance were among the leading gainers after the closing bell today while shares of Dr. Lal Pathlabs, Amber Enterprises, Biocon, Cummins India, Oberoi Realty, Tata Consumer Products, Mahindra CIE Auto andHindalco Industries were among the major losers after the closing bell trade session.

Banking and financial stocks led the bull run post-RBI credit policy announcement as the BSE Banking index shot up around 2.64 per cent in the intraday trade session. Banking major State Bank of India or SBI share price rose 3.52 per cent, Axis Bank shares appreciated 3.64 per cent, HDFC Bank jumped 3.57 per cent, ICICI Bank stock price scaled up 3.64 per cent while IndusInd Bank scrip added 1.15 per cent.

Among the major Asian indices, the Japanese Nikkei 225 index shed 0.12 per cent, South Korean Kospi added 0.21 per cent, Hong Kong's Hang Seng went off 0.31 per cent while Shanghai index shot up 1.68 per cent after the closing bell.

At Wall Street on Thursday,  Dow Jones surged 0.43 per cent, Nasdaq went up 0.50 per cent, S&P 500 rose 0.80 per cent while Small Cap 2000 skyrocketed 1.08 per cent.