Benchmark Nifty extended gains for the fourth consecutive session to end at 9,914.90 today, up 55 points, after the Reserve Bank decided to hold rates in line with expectations. The Reserve Bank of India's Monetary Policy Committee maintained status quo in its fourth bi-monthly monetary policy meeting, leaving the benchmark repo rate unchanged at 6 per cent, citing upward trend in inflation.
Overseas, most European stocks gained. Japanese and Hong Kong share markets led Asian stocks higher in holiday- thinned trading after US stocks rose to record highs. The Nifty opened higher at 9,884.35 and moved in a range of 9,938.30 and 9,850.65 before ending at 9,914.90, up 55.40 points, or 0.56 per cent, from its last close. It saw an intra-day movement of about 87.65 points. On the sectoral front, Pharma rose by 1.71 per cent, followed by Energy 1.67 per cent, FMCG 1.45 per cent, PSU Bank 0.57 per cent, Realty 0.47 per cent, Auto 0.36 per cent, Infra 0.21 per cent and Media 0.18 per cent.
However, Metal and IT fell 0.15 per cent and 0.06 per cent, respectively. Major index gainers were Sun Pharma, Reliance, ITC, Aurobindo Pharma, Kotak Bank and Tata Motors. losers were Bharti Airtel, ICICI Bank, Eicher Motors, Axis Bank and Coal India. The broader markets extended their gains as both the Nifty midcap and smallcap indices rose 0.34 per cent and 0.77 per cent, respectively.