Sensex jumps over 350 points, Nifty closes above 11,000

New Delhi: BSE benchmark Sensex jumped over 350 points and NSE Nifty breached the 11,000 mark to close at five-month high on led by gains in IT and metal stocks amid heavy buying by domestic and foreign institutional investors.

The BSE Sensex rallied 358.42 points or 0.98 percent to end at 36,975.23 while the NSE Nifty jumped 128.10 points to 1.17 11,062.45.

All eyes are set upon the announcement of RBI monetary policy scheduled for Thursday. 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.

Bajaj Finance, Tata Steel, ONGC, Bajaj Auto, ICICI Bank, NTPC, Coal India, M&M and RIL led the winners' pack, spurting up to 4.34 percent. Only two of the 30 Sensex stocks ended in the red -- IndusInd Bank and Axis Bank, which slipped up to 0.54 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.

Sectorally, metal, IT, energy and auto led the rally, jumping up to 2.44 percent.

With PTI Inputs