Equities jump in early trade on RBI's accommodative stance

The 30-scrip Sensitive Index (Sensex) rose sharply in early trade on Wednesday after the announcement of the Reserve Bank of India's Monetary Policy Committee outcome.

The central bank kept repo rate and reverse repo rate unchanged at 4 per cent and 3.35 per cent, respectively. Also, it maintained its "accommodative" stance to ensure better economic recovery.

At 10.30 a.m., the S&P BSE Sensex traded at 58,349 points, up 1.25 per cent.

It opened at 58,185 points from the previous close of 57,663 points.

Till now it touched a low of 58,122 points.

Besides, the broader 50-scrip Nifty at the National Stock Exchange (NSE) opened at 17,044 points after closing at 17,176 on Tuesday.

It traded at 17,389 points, up 1.24 per cent during the early-morning trade session.

Bajaj Finance, Grasim Industries, Wipro, L&T, and Infosys were some of the top gainers during the early trade, exchange data showed.