Sensex Surges 374 Points as Reliance Sparks Rally, Nifty Ends Flat Amid RBI Optimism

Indian benchmark equity indices ended Thursday on a mixed note, with the BSE Sensex gaining 373.76 points, or 0.48%, to close at 78,954.76, while the NSE Nifty edged up just 11.35 points to settle at 24,636, as gains in heavyweight stocks offset weak global cues.

The market opened higher after lower crude oil prices and positive sentiment following the Reserve Bank of India's monetary policy decision boosted investor confidence. The Sensex remained in positive territory throughout the session, while the Nifty traded in a narrow range before ending nearly flat.

Reliance Industries emerged as the biggest contributor to the rally, climbing 3.43% and lifting the Sensex. Other major gainers included ICICI Bank, State Bank of India, Bharat Electronics, Eternal, and Titan, reflecting buying interest in banking, energy and select consumer stocks.

On the other hand, Power Grid Corporation declined nearly 4% after reporting a marginal fall in its June quarter consolidated net profit. Shares of Tata Consultancy Services, InterGlobe Aviation, and Mahindra & Mahindra also ended lower.

Investor sentiment remained supported after the RBI kept the repo rate unchanged at 5.25% for the fourth consecutive policy meeting. The central bank also retained its neutral stance, raised its FY27 GDP growth forecast to 6.7%, and lowered its inflation projection to 5%, signalling confidence in the economy while remaining cautious about global uncertainties.

Another positive trigger came from easing crude oil prices. Brent crude hovered below USD 80 per barrel, offering relief to oil-importing economies like India and reducing concerns over inflationary pressures.

Globally, sentiment remained mixed. South Korea's KOSPI tumbled more than 4.5%, while Japan's Nikkei and Hong Kong's Hang Seng also ended lower. However, European markets traded in positive territory during the day.

Meanwhile, Foreign Institutional Investors (FIIs) remained net sellers, offloading ₹943.42 crore worth of equities on Wednesday.

Analysts said the continued divergence between the Sensex and Nifty also reflects the impact of the newly introduced Closing Auction Session (CAS) mechanism, which has altered closing price movements, particularly for Nifty stocks.