The Budget-induced optimism got a leg to stand on as the Sensex on Monday pushed higher for the fourth day by scoring 199 points to close at 28,439 - a 4-month high - after hopes built up that RBI may lower rate at its policy meet on Wednesday. Driven by the momentum, the NSE Nifty retook the crucial 8,800-mark.
At its last policy review in December, RBI in a surprise move had decided to leave rates unchanged, but this time a lower retail inflation and fiscal discipline as shown in the Budget have prompted calls for the central bank to remain accommodative. Global leads aligned as most Asian shares ended higher, tracking weekend gains in the US on better-than-expected jump in US jobs and a move by President Donald Trump to cut back on financial regulations, pacing up buying by investors. The 30-share Sensex ended up 198.76 points, or 0.70 per cent, at 28,439.28, its highest closing since September 23 last year when it had closed at 28,668.22.