Sensex surges 810 points ahead of RBI policy, Nifty crosses 24,700

The Indian benchmark indices extended their winning streak to a fifth session on Thursday, driven by gains in heavyweight Reliance Industries and IT stocks,ahead of the RBI's impending rate policy announcement on Friday. At close, the Sensex was up 809.53 points or 1 percent at 81,765.86, and the Nifty was up 240.95 points or 0.98 percent at 24,708.40. 
TCS, Infosys, Titan Company, Trent and Dr Reddy's Labs were the biggest gainers on the Nifty, while losers included SBI Life Insurance, Bajaj Auto, HDFC Life, NTPC and Grasim Industries. Except realty and PSU Bank, all other sectoral indices ended in the green with Information Technology index being the biggest gainer by rising nearly 2 percent, according to information. The BSE midcap and smallcap indices ended with marginal gains.
Meanwhile, the RBI is expected to maintain its current policy rates on Friday amid elevated inflation, with its forward guidance likely to draw close attention following weaker-than-expected GDP growth in the September quarter.
Analysts are speculating on the possibility of a CRR cut from 4.5% to 4%, which could inject additional liquidity into the banking system.
Rupee Close:
On 05 Dec'24,the Indian rupee recovered from its all-time low level and settled for the day with gains of just 3 paise at 84.72 against the U.S. dollar in a range-bound trade on Thursday,amid a positive trend in domestic equities.Forex traders reportedly stated the Indian rupee recovered slightly on strength in the domestic markets and an overnight decline in crude oil prices. However, a positive U.S. dollar capped a sharp upside.
Trading Guide:
V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services reportedly quoted as saying,the market experienced a sharp recovery from the day's low, closing with strong gains. A positive turnaround from FIIs for the past couple of days to India in expectation of a dovish monetary policy by RBI supported the sentiment. Further, stability in November service PMI data despite a rise in inflation shows steadiness in business activity.
Market experts have recommended five shares to buy-Computer Age Management Services Ltd, Federal Bank Ltd, Bharat Dynamics Ltd, Vedanta Ltd and GAIL India Ltd.

(Business Correspondent)