Indian Markets surge on announcement of positive measures from the new RBI Governor

Indian Equity markets ended higher on Thursday's trading for the second day, as the sentiment received a boost from the slew of measures announced by the new RBI Governor Raghuram Rajan on Wednesday. RBI has announced several measures including opening a swap window for FCNR (B) deposits and relaxed norms for rebooking cancelled forwards for both exporters and importers. Indian Rupee's recovery also aided the sentiment.

The bank stocks, oil marketing companies and the rate-sensitive stocks were major gainers in the markets, whereas the IT stocks, Pharma and Metal Stocks were the major losers. The BSE Sensex closed higher by 412.21 points or 2.22% at 18,979.76 and NSE Nifty closed up 144.85 points or 2.66% at 5592.95.

The BSE Bankex ended higher by 836.65 points or 9.30% at 11,014.99. Yes Bank was the top gainer in Bankex with the stock closing higher by 22.73% at Rs. 289.70, SBI ended higher by 9.36% at Rs. 1634, AXIS Bank surged 15.91% to close at Rs. 929 and ICICI Bank ended up at Rs. 890, up by 8.84%.

Source : Equity Bulls

Keywords