Sensex zooms 301 points to close at 33250; Nifty finishes at 10265

Sensex ends lower ahead of RBI's monetary policy decision

Bank stocks, in fact, fell on Wednesday after the RBI chose to keep the repo rate unchanged in its monetary policy review. Buying sentiment was bolstered after opinion polls gave an edge to the BJP in the upcoming Gujarat elections, while upbeat global leads added to the momentum.

Dalal Street saw investors hunting for bargains in recently-battered bank, auto and metal stocks, that came under the weather in the previous session on the back of the central bank's decision to hold repo rates in its sixth bi-monthly monetary policy meeting. Bharti Airtel, Tata Motors and Maruti were the top gainers on Sensex.

The Sensex started the week higher at 33,968.02 and hovered between 33,285.68 and 32,565.16 before ending the week at 33,250.30, showing a gain of 417.36, or 1.27 percent.

The broader market, midcap shares outsmarted the smallcap stocks with substantial gains.

In keeping with the overall trend, the small-cap and mid indices rose 1 percent and 0.89 percent.

Meanwhile, foreign portfolio investors offloaded shares worth net Rs 333.59 crore, while domestic institutional investors (DIIs) bought shares to the tune of Rs 776.18 crore on Tuesday, as per provisional data.

However, among the laggards stood pharmaceutical majors Sun Pharma, Cipla, and IT companies like Wipro, TCS, in addition to the state-run Coal India. The BSE FMCG index topped with a robust 2.23 percent rise, followed by metal 1.36 percent, healthcare 1.35 percent, consumer durables 1.15 percent, oil & gas 1.02 percent, auto 0.97 percent, bankex 0.92 percent and realty 0.72 percent.

Asian markets were trading higher following a broad-based rally in U.S. equities.

Asian markets retreated, with Japan's Nikkei falling 0.37%, Hong Kong's Hang Seng declining 1.01% and Shanghai Composite Index finishing 0.18% lower.

In the Eurozone, key indices such as Paris CAC 40 and Frankfurt's DAX Performance Index were up by 0.32% and 0.55% in their early deals.

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