Ahead of RBI’s Credit Policy Outcome, Sensex Hits 51,000 For The 1st Time, Nifty Crosses 15,000

New Delhi: Ahead of the announcement of RBI’s three-day Monetary Policy Committee (MPC) meeting outcome, Sensex on Friday hit the 51,000-mark in the opening session while the Nifty surged 95 points to trade over 15,004. At 09:18 AM, the Sensex was higher by 450 points at 51,031  while the Nifty gained by 95 points to 15,004. Also Read – Sensex Rises By 458 Points to End Above 50,000 For First Time; Nifty Tops 14,750

Sensex currently at 50,948.73; up by 334.44 points. Nifty up by 96.40 points, currently at 14,992.05. pic.twitter.com/z74LYbZ7sp Also Read – Day After Budget, Market Opens in Green | Sensex Hits 50,000-Mark; Banks, Auto Stocks Rise

— ANI (@ANI) February 5, 2021 Also Read – Budget 2021 Market Reaction Updates: Sensex Ends 2,341 Points Higher, Nifty Above 14,250; Nifty Bank at All-time High

SBI, Kotak Bank, IndusInd Bank, HDFC, ONGC and Axis Bank were top gainers in the Sensex pack. Of the Sensex constituents, 22 shares were trading in the green.

On Thursday, the Sensex had ended 358.54 points or 0.71 per cent higher at its new closing record of 50,614.29; and the Nifty had settled with 105.70 points or 0.71 per cent gains at its closing peak of 14,895.65. Both indices had touched their all-time highs as well during the session.

Meanwhile, the Reserve Bank is scheduled to announce its bi-monthly monetary policy decision in a short while from now.

“The market will be keenly watching the monetary policy due today, particularly the nuances of the policy and indications coming from the central bank. The policy rates are likely to remain unchanged but there can be indications on liquidity management, going forward, V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said.

The RBI has a crucial role to play in growth recovery by pursuing an accommodative stance for an extended period of time, he said adding that low-interest rates have turned out to be a strong tailwind for sectors like housing and automobiles.

Foreign institutional investors bought shares worth Rs 2,520.92 crore on a net basis on Thursday, according to exchange data.

Asian shares too moved higher during afternoon trade as governments around the globe accelerated vaccine rollout programmes to fight the COVID-19 pandemic.

Meanwhile, the global oil benchmark Brent crude was trading 0.39 per cent higher at USD 59.22 per barrel.

(With PTI Inputs)