Indian benchmark indices snapped 8-day losing streak, ending strong with Nifty above 24,800 after RBI kept the repo rate unchanged, lowered its inflation forecast to 2.6 percent and upward revision of GDP growth projection to 6.8 percent.



In line with the expectations, the Reserve Bank of India’s Monetary Policy Committee (MPC) kept the repo rate unchanged at 5.5 percent with a neutral stance, marking its second consecutive pause after three cuts totalling 100 basis points earlier this year.

The RBI announced a series of measures to expand bank lending to capital markets.

At close, the Sensex was up 715.69 points or 0.89 percent at 80,983.31, and the Nifty was up 225.20 points or 0.92 percent at 24,836.30. BSE Midcap index rose 0.9 percent and smallcap indices added 1%.

The market will remain shut on October 2 Mahatma Gandhi Jayanti and Dussehra.

Except PSU Bank, all other sectors ended in the green with private bank, realty, pharma, IT, media up 1-4 percent.

Tata Motors, Shriram Finance, Kotak Mahindra Bank, Trent, Sun Pharma were among biggest gainers on the Nifty, while losers were Bajaj Finance, Tata Steel, SBI, UltraTech Cement and Bajaj Auto.

In stock-specific action, RateGain Travel Technologies shares rose 9% on acquisition of Sojern Inc, Indian Renewable Energy Development Agency shares added nearly 3% after Q2 loan sanctioned jumps 86%, Escorts Kubota shares gained 5.5% on registering highest ever monthly sales, Lupin shares added 3% on USFDA approval for Rivaroxaban, Jaiprakash Associates shares added nearly 5% post CCI approves acquisition by Jindal Power.

Hi-Tech Pipes shares jumped 4% on posting highest ever sales volumes for Q2, 1HFY25-26, Atlantaa shares zoomed 20% on agreement with IRCON International for contract of Rs 2,485 crore, Nazara Technologies shares added 7% despite 'underperform' rating by CLSA, VST Tillers share price gained 4% after September total sales up 35% at 3,480 units, Kirloskar Brothers shares rose 2.6% on contract win from IOC, Shriram Finance shares rose 5% on report of Mitsubishi UFJ Financial Group (MUFG) to acquire 20% stake.

Nearly 140 stocks touched their 52-week high on the BSE, including L&T Finance, Fortis Healthcare, Muthoot Finance, Jindal Steel, Canara Bank, Tata Investment Corp, RBL Bank, among others.