Markets climb for 4th day; Sensex rallies 350 pts to reclaim 63,000-mark

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Benchmark stock indices ended with gains on Wednesday, marking their fourth day of rise amid new inflows of foreign funds and a mixed trend in global markets.

Gains in metals, real estate, oil and gas and industrial stocks also supported the market rally.

BSE Sensex, which includes 30 shares, rose for the fourth consecutive session, 350.08 points, or 0.56 percent, to settle at 63,142.96 points. During the day, it jumped 403.55 points, or 0.64 percent, to 63,196.43 points.

NSE Nifty advanced by 127.40 points, or 0.68 percent, to close at 18,726.40.

Also read: The rupee rose 5 pounds to close at 82.55 against the US dollar

Among the Sensex Group, Nestle, Tata Steel, Tata Motors, Bharti Airtel, Larsen & Toubro, Power Grid, NTBC, Tata Consulting Services, Tech Mahindra, Infosys and Access Bank were the main gainers.

Kotak Mahindra Bank, Maruti, Bajaj Finance, Mahindra & Mahindra and ICICI Bank were among the latecomers.

In Asian markets, Seoul, Shanghai, and Hong Kong closed in the green, while Tokyo settled lower.

Stock markets in Europe were trading mixed. US markets closed in positive territory on Tuesday.

The Reserve Bank’s Monetary Policy Committee began deliberations on Tuesday and The decision will be announced on June 8th.

Also read: NSE and BSE are fighting for equity derivatives market

“Investors are becoming more bullish due to the expectation of a positive revision in the RBI’s inflation outlook during the ongoing Monetary Policy Committee meeting. It is expected that The Reserve Bank of India (RBI) will keep its pause on raising interest rateskeeping in mind the marked improvement in inflation, which is now within the RBI’s comfort zone.

Vinod Nair, Head of Research, said Geojit Financial Services.

global oil standard, Brent crudeIt rose 0.10 percent to $76.45 a barrel.

Foreign institutional investors (FIIs) bought shares worth ₹385.71 crore on Tuesday, according to exchange data.