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February 23, Friday 2018 2:18 AM       

       HEADLINES: Kerala initiates NRI chit funds; Centre approves online auction                                              Body of woman found under suspicious circumstances                                              Fire at Kochi refinery                                              Shuhaib murder: Will respond during state meet, says Yechury                                              Party offices, houses destroyed: Bomb attack in Kannur                                              ‘Magician’ Modi can make even democracy ‘disappear’: Rahul Gandhi                                              Medical reports show injury on Delhi Chief Secretary                                              India ranks 81st in global corruption perception index                                              PNB case: ED seizes nine cars of Nirav Modi                                              Khalistani terrorist invited for Trudeau reception                                              Canadian MP apologises for inviting Atwal to Trudeau's dinner                                              Grenade hurled at US embassy in Montenegro                                              Trump pledges to find long-term solution to gun violence                                              Ish Sodhi named in Kiwi ODI squad                                              Kalu Uche's late strike helps Dynamos hold Goa to 1-1 draw                                              ISL: Mumbai City look to keep semi-final hopes alive                                              Kaumudi Facebook
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       Sensex pulls 332 pts higher ahead of RBI meet, on global cues
 
         Posted on :15:43:25 Oct 3, 2017
   
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       Last edited on:15:43:25 Oct 3, 2017
         Tags: Sensex pulls 332 pts higher ahead of RBI meet
 

MUMBAI: Stock markets after a long weekend started the day Tuesday with a bang as the Sensex surged 332 points and the Nifty was back on top of 9,800 on optimistic buying ahead of RBI policy review.

Looking good for the third day, the 30-share index advanced 331.56 points, or 1.05 per cent, to 31,615.28. Auto, metal, consumer durables and realty stocks hit a sweet spot.

The gauge had gained 123.91 points in the previous two sessions.

The NSE Nifty perked up 106.80 points, or 1.09 per cent, to 9,895.40.

The central bank's 2-day monetary policy review kicks off today and the decision is due tomorrow. This has led to unabated buying by domestic financial institutions, which added to the positive mood.

Rate-sensitive auto stocks made buyers sit up and take note amid encouraging September sales data.

Tata Motors was trading higher by 4.90 per cent at Rs. 420.90 and Bajaj Auto was up 1.89 per cent at Rs. 3,167 while M&M gained 1.38 per cent to Rs. 1,271.

Firm Asian cues reflecting a rally on Wall Street, where all three US indices hit new records following strong economic data, made investors here loosen their purse strings.

US manufacturing activity in September rose to its highest level in 13 years. The deadliest mass shooting in US history, however, brought in a sense of caution, traders said.

Other gainers that supported the key indices include Asian Paints, Tata Steel, Dr Reddy's, Reliance Industries, NTPC, ONGC and Infosys.

Among other Asian markets, Hong Kong's Hang Seng was up 1.62 per cent while Japan's Nikkei surged 0.77 per cent in early session today. Financial markets in China are closed today for a public holiday.

US Dow Jones Industrial Average ended 0.68 per cent higher yesterday.

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