Sensex gains 374 points, Nifty barely rises after CAS rollout

The Story in Brief

The Sensex rose 373.76 points, or 0.48%, to 78,954.76 on Thursday, while the Nifty gained 11.35 points, or 0.05%, to 24,636. Reliance Industries and ICICI Bank supported the Sensex, while investors booked profits in several sectors. Brent crude stood near $79.52 a barrel. The RBI’s decision to keep the repo rate at 5.25% for a fourth meeting and retain a neutral stance also supported sentiment. The central bank raised its current fiscal growth forecast to 6.7% and lowered its inflation projection to 5%, according to Rediff and BusinessLine.

The gap between the two benchmarks has persisted since exchanges introduced the Closing Auction Session on August 3 for eligible F&O stocks. Analysts cited by BusinessLine and Rediff attributed the divergence to differences in liquidity and institutional orders, rather than a fundamental split. PSU banks gained over 2%, while auto, metals, IT, realty and cement stocks faced profit booking. The Nifty held above 24,500, with 24,650 seen as a key resistance level.