CHENNAI: Indian equity markets closed on a positive note on Monday, August 4, buoyed by encouraging Q1 earnings and investor optimism ahead of the Reserve Bank of India’s (RBI) monetary policy decision.

The central bank’s Monetary Policy Committee (MPC) began its three-day meeting today and will announce its outcome on August 6.

The BSE Sensex rose 418.81 points, or 0.52%, to settle at 81,018.72, while the NSE Nifty50 gained 157.40 points, or 0.64%, to close at 24,722.75.

Market sentiment was supported by gains in metal, IT, and auto stocks. On the BSE, Tata Steel, Bharat Electronics Ltd (BEL), and Adani Ports emerged as the top performers. On the flip side, Power Grid, HDFC Bank, and ICICI Bank dragged the index.

A similar trend was seen on the NSE, where Hero MotoCorp joined Tata Steel and Adani Ports among the top gainers, while ONGC joined Power Grid and HDFC Bank in the losers’ list.

Broader market indices outperformed the frontline benchmarks. The Nifty Midcap 100 index rose 1.40%, and the Nifty Smallcap index gained 1.27%, indicating strong participation from mid- and small-cap segments.

Source: Newindianexpress