Due to cautious positive signals from the global market front, domestic stock markets saw a strong rally on Monetary Policy Day. At 9:18 am, the BSE Sensex was up 50,000 points to trade at 50,000.81, up 328 points or 0.65 percent and the NSE Nifty rose 94.70 points or 0.66 percent to 14,914.50. Broad markets are also trading with BSE’s Midcap index and BSE’s Smallcap index gaining nearly half a percent.
Overnight, the Dow Jones gained 16.02 points and the S&P 500 gained 6.01 points, while the Nasdaq Composite declined 9.54 points.
Meanwhile, oil futures rose to higher levels on Wednesday as global economic outlook improved, but rising discoveries of gasoline led to gains and fears that a new coronovirus outbreak would lead to a global decline in fuel demand.
Brent crude futures gained $ 63.16 a barrel, 42 cents or 0.7 percent, and US West Texas Intermediate crude at $ 59.77 a barrel, 44 cents or 0.7 percent.
The BSE Sensex gained 460.37 points and the Nifty climbed 135.50 points on Wednesday after keeping key policy rates unchanged in the first monetary policy for FY 2022.