Stocks hit all the right notes after a long weekend and remained well above the baseline throughout the day as the Sensex on Tuesday jumped 214 points ahead of the outcome of the RBI monetary policy meet. The Nifty too did not disappoint, which again settled above the crucial 9,800-mark. Interest rate sensitive auto stocks in particular turned favourites on robust sales data for September amid expectations of favourable policy action from the central bank, analysts said.
The decision of the six-member monetary policy committee (MPC) is due Wednesday. True to their form, domestic institutional investors (DIIs) carried on with buying, which saw the 30-share BSE barometer settle at 31,497.38, up 213.66 points, or 0.68 per cent. It had advanced 123.91 points in the previous two sessions. A similar push helped the broader NSE Nifty take control of the 9,800 level again before ending up 70.90 points, or 0.72 per cent, at 9,859.50. The flagship index moved between 9,895.40 and 9,831.05.