Mumbai: Indian equity indices surged on Wednesday, ending an eight-day losing streak, as investors cheered the Reserve Bank of India’s decision to keep the repo rate unchanged at 5.5 per cent and revise the GDP growth forecast for FY26 to 6.8 per cent, up from 6.5 per cent. Strong automobile sales data for September further boosted market sentiment.

The Sensex closed at 80,983.31, rising 715.69 points, or 0.89 per cent. The 30-share index opened lower at 80,159.90 but surged after the RBI announcement, touching an intraday high of 81,068.43. The Nifty 50 ended at 24,836.30, up 225.20 points, or 0.92 per cent.

“Nifty closed Wednesday with a strong bullish candlestick after the RBI policy outcome and auto sales data, reclaiming levels above its 100-day EMA at 24,750, which had previously acted as resistance,” analysts noted.

Among the Sensex constituents, top gainers included Tata Motors, Kotak Bank, Trent, Sun Pharma, Axis Bank, ICICI Bank, Tech Mahindra, HDFC Bank, Adani Ports, Mahindra & Mahindra, Titan, TCS, ITC, BEL and Hindustan Unilever. Bajaj Finance, Ultratech Cement, SBI and Asian Paints ended the session lower.

Sectoral indices reflected the broad buying trend. Nifty Bank surged 712 points (1.30 per cent), Nifty Financial Services jumped 360 points (1.38 per cent), Nifty Auto rose 226 points (0.85 per cent), Nifty FMCG gained 394 points (0.72 per cent), and Nifty IT climbed 250 points (0.74 per cent).

Broader markets also followed suit, with Nifty Smallcap 100 up 193 points (1.10 per cent), Nifty Midcap 100 rising 500 points (0.89 per cent), Nifty 100 up 207 points (0.82 per cent), and Nifty Next 50 gaining 242 points (0.36 per cent).

IANS