Sensex jumps 250 points, Nifty reclaims 11,000

New Delhi: Markets opened on a positive note on Wednesday while all eyes are set upon the announcement of RBI monetary policy scheduled for Thursday.

The BSE Sensex soared 249.13 points or 0.68 percent to 36,865.94 in early trade while the NSE Nifty reclaimed 11,000 level by climbing 75.70 points or 0.69 percent to 11,010.05.

The RBI is scheduled to announce its sixth bi-monthly policy review for the fiscal on February 7. It would be the first Monetary Policy Committee meeting under RBI Governor Shaktikanta Das, who took charge in December 2018 following exit of Urjit Patel.

HCL Tech, NTPC, ONGC, RIL, Infosys, ICICI Bank, Asian Paints, Bajaj Finance, ITC and HDFC were the top gainers in the Sensex pack, rising up to 2 percent. Meanwhile, Hero Bharti Airtel, IndusInd Bank, Tata Motors, Vedanta and L&T were the losers, shedding up to 1.33 percent.

On a net basis, foreign portfolio investors (FPIs) bought shares worth a net of Rs 420.65 crore Tuesday, and domestic institutional investors (DIIs) were net buyers to the tune of Rs 194.31 crore, provisional data available with BSE showed.

Asian shares started cautiously on Wednesday. MSCI`s broadest index of Asia-Pacific shares outside Japan was flat with China and several other markets in the region still closed for the Lunar New Year holiday. Japan`s Nikkei edged up 0.3 percent, while E-Mini futures for the S&P 500 barely budged, a Reuters report said.

The Dow ended Tuesday up 0.68 percent, while the S&P 500 gained 0.47 percent and the Nasdaq 0.74 percent.

With Agency Inputs