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October 17, Tuesday 2017 7:42 AM       

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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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       BUSINESS
Next Article: Zuckerberg apologises for Facebook's negative effects
 
 
BUSINESS HEADLINES
Reliance Retail to be biggest threat to Amazon, Flipkart: Pai  
India undergoing 'exciting digital transformation: IMF  
Sensex hits new peak of 32,687.32; Nifty at 10,242.45 pts  
Digital India to contribute 30pct to India's GDP by 2025  
Bring real estate under GST: Sisodia writes to Jaitley  
IMF favors three structural reforms in India  
India must go for pollution-free methanol as fuel: Gadkari  
Indian Railways to start cheaper, faster Rajdhani between Delhi-Mumbai  
Help young entrepreneurs to set up startups: AP IT Minister Lokesh to officials  
Madhya Pradesh slashes VAT on petrol by 3%, diesel by 5%  
Sensex climbs 211 pts on positive economic data points  
RBI sets rupee reference rate at 65.1003 against US dollar  
Bringing real estate under GST will be a 'disaster': Congress  
Sensex soars 348 pts, all eyes on macro data  
Govt to discuss bringing real estate under GST in Nov: Jaitley  
Sensex moves up 113 pts, Nifty climbs above 10,000  
Direct tax collections for FY 2017-18 up by 15.8 per cent  
India seeks global investments in energy sector: Dharmendra Pradhan  
Sensex ends with losses, fails to keep early lead  
Gujarat cuts VAT on petrol, diesel; Cong sees poll angle  
Sensex starts off high, Nifty regains 10k mark  
Revival of gas power plants to boost consumption: Pradhan  
MFs bet most on government securities: ASSOCHAM  
Idea Cellular tops Trai's 4G upload speed rankings in Sep  
Jaitley headed for US for IMF-World Bank meets  
 
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