Sensex opened 413 points higher at 72,340, and Nifty surged 110 points to 22,532, according to BSE and NSE data.
HDFC Bank, Reliance Industries, Bajaj Finance, PC Jewellers, PNB, Shriram Finance, and ITC led gains, while Avenue Supermarts, TVS Motor, Apollo Hospitals, Infosys, and Max Healthcare slipped.
RBI’s Monetary Policy Committee convenes 5–7 Oct, with the repo rate held at 5.25%; the decision is due Wednesday, amid a 4.82% CPI in August.
Broad‑based inflation, driven by crude oil above $100 a barrel and a weaker rupee, squeezes the RBI’s room to keep rates unchanged.
Market participants are watching for signs that the RBI may raise rates, which could dampen equity momentum and shift capital into bonds.