NDTV | Updated On: December 18, 2013 11:11 (IST)
The BSE Sensex jumped over 300 points on Wednesday after the Reserve Bank kept policy rates unchanged at 7.75 per cent. The broader Nifty jumped around 100 points and traded above the key 6,200 levels.
Markets had factored in a 0.25 per cent hike in repo rate after headline inflation surged to a 14-month high in November. However, Governor Raghuram Rajan's announcement took market participants by surprise. That fuelled a rally in rate sensitive stocks such as banks. The Bank Nifty jumped over 2.6 per cent, while realty and auto stocks also saw strong buying interest.
On the Nifty, banking stocks were the top gainers. State-run PNB jumped 3.5 per cent, while IndusInd Bank traded 3.3 per cent higher.
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