Benchmark indices continue winning streak on RBI's accommodative stance

The benchmark indices rallied nearly 1 per cent after the Reserve Bank of India (RBI) pledged to maintain an accommodative stance for as long as necessary to support growth, amid a new wave of infections.

The Sensex rose 460 points, or 0.94 per cent, to close at 49,662, while the Nifty50 added 136 points, or 0.92 per cent, to end the session at 14,819. 

Banking stocks contributed to gains, with the Bank Nifty soaring 1.5 per cent. Other rate-sensitive sectors also performed well, with the Nifty Auto gaining 1.6 per cent and Nifty Realty rising 0.96 per cent.

The RBI’s Monetary Policy Committee