Stock Market: Sensex, Nifty cheer RBI policy; Birlasoft, Hindustan Zinc shares soar

Stock Market Today: Cheering the Reserve Bank of India (RBI) policy, the indian indices ended around 1 per cent higher from its Wednesday close. The BSE Sensex shot up 362 points and closed at 38,025 levels while the NSE Nifty went 98 points northward and closed at 11,200 mark. Bank Nifty index scaled 132 points up and closed at 21,642 levels. IT, tech, metal and consumer durable stocks led the bull run in the intraday trade session.

Speaking on the current market scenario Simi Bhaumik, a SEBI| registered technical equity analyst said, "The NSE Nifty has made a broader base of up to 10,850 to 10,950 while it has upper range of 11,250 to 11,300. I don't see Nifty breaking this range by the end of this week. Bank Nifty also won't be able to break 20,900 to 22,00 range."

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IT stocks led the bull run as the BSE IT index shot up 2.21 per cent. IT majro Birlasoft share price skyrocketed 14.69 per cent, NIIT Technologies shares shot up 5.89 per cent, shares of Ramco Systems and Tanla Solutions soared near 5 per cent, Tata Consultancy Services or TCS stock price escalated 2.22 per cent while Zen Technologies added 7.98 per cent.

In metal sector, Hindustan Zinc share price shot up 7.72 per cent, Tata Steel shares soared 3.82 per cent, shares of Steel Authority of India Ltd or SAIL went up 2.18 per cent, NMDC counter rose 1.33 per cent while Hindalco Industries escalated 1.22 per cent.

Amomg the major Asian indices, the Japanese Nikkei 225 index shed 0.43 per cent, Kospi surged 1.33 per cent, Hong Kong's Hang Seng went down 0.69 per cent while the Shanghai index added 0.26 per cent.

At Wall Street on Wednesday, Dow Jones index shot up 1.39 per cent, Nasdaq rose 0.52 per cent, S&P 500 went up 0.64 per cent while SmallCap 2000 soared 1.70 per cent.