Indian equity benchmark Sensex jumped 460 points while the Nifty rebounded to the 17,600-mark after the central bank left interest rates unchanged on Thursday. RBI retained its accommodative policy stance to boost growth. The positive trend in global markets supported the domestic markets.

Also Read | RBI monetary policy: Market rebounds, Bond yields fall

The 30-scrip BSE Sensex climbed 460.06 points or 0.79% to close 58,926.03. Similarly, the NSE Nifty ended 142.05 points or 0.81% higher at 17,605.85.

Top gainers in the Sensex pack were Tata Steel by 2.11%, Infosys by 1.80%, HDFC Bank by 1.77%, HDFC by 1.64%, Kotak Bank 1.60%, M&M by 1.49% and PowerGrid by 1.31%.

Also Read | Gold, silver and other metal prices on Thursday, February 10, 2022

Among the laggards was Maruti by 1.64%, Nestle India by 0.42%, Ultratech Cement by 0.38% and Reliance Industries by 0.21%.

The Reserve Bank of India (RBI) held its key lending rates steady at record low levels for the 10th straight meeting to support a durable recovery of the economy from the COVID-19 pandemic.

Also Read | RBI monetary policy meet: Key highlights

The Monetary Policy Committee (MPC) decided to keep the lending rate/repo rate unchanged at 4% and the reverse repo rate at 3.35%, said RBI Governor Shaktikanta Das.

The six-member MPC voted unanimously to maintain the status quo on the repo rate by a majority of 5-1 to retain the accommodative policy stance as long as necessary.

Also Read | RBI monetary policy: Sensex, Nifty gain after reserve bank holds rates

The RBI projected a 7.8% economic growth in the fiscal year 2022-23, down from 9.2% expected in 2021-22, on account of uncertainties of pandemic and high global commodity prices. It reduced the inflation outlook to 4.5% for the next fiscal from 5.3% in the current year

Also Read | Inflation to peak this quarter, policy support to continue: Shaktikanta Das

Among Asian market peers, Shanghai, Hong Kong, Seoul and Tokyo closed with moderate gains. European stock exchanges were trading in green in the afternoon session.

Meanwhile, international oil benchmark Brent crude rose 0.08% to USD 91.62 per barrel.

RBI monetary policy: Cap on e-Rupee to be increased from Rs 10,000 to Rs 1 lakh

According to stock exchanges data, foreign institutional investors (FIIs) remained net sellers in the capital market as they sold shares worth Rs 892.64 crore on Wednesday.

The rupee slipped by 10 paise to close at 74.94 (provisional) against the US dollar.