Sensex up 120 points on hopes of rate cut in Jan

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SME Times News Bureau | 18 Dec, 2012
A benchmark index for the equities markets closed over 120 points higher with rate sensitive banking and realty stocks attracting good buying on optimism of RBI easing monetary policy next month even as the central bank kept the interest rate unchanged in policy review on Tuesday.

The 30-share BSE index Sensex jumped after RBI announced its mid quarter policy review and ended with a gain of 120.33 points, or 0.63 per cent, at 19,364.75.

The broad-based National Stock Exchange index Nifty rose by 38.90 points, or 0.66 per cent, to 5,896.80, led by stocks of banking, realty shares.

RBI kept the key interest rates unchanged, but hinted at easing of rates in January saying with decline in inflation, the focus of monetary policy would shift to removing impediments to growth.

Among other Asian markets, Japan's Nikkei was up 0.96 percent and Hong Kong's Hang Seng was lower by 0.18 percent. China's Shanghai Composite Index was down 0.29 percent.