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Sensex, Nifty go higher as metals advance; RBI decision eyed
Photo Credit: Reuters

Indian shares ended higher for a third straight session on Wednesday, boosted by metal stocks and hopes of more monetary stimulus to cushion the economic blow from the coronavirus outbreak.

The Nifty closed up 0.91% to 12,089.15 and the benchmark Sensex ended 0.87% higher at 41,142.66.

Market focus will shift to Reserve Bank of India (RBI) on Thursday as it will detail its interest rate decision, the first one after the Union Budget that did little to boost investor sentiment.

Rising inflation in Asia's third-largest economy was expected to keep the RBI from cutting rates again until late this year, according to a Reuters poll published last month.

Meanwhile, the People's Bank of China is likely to lower its key lending rate -- the loan prime rate -- on February 20, and cut banks' reserve requirement ratios in the coming weeks, persons in the know told Reuters.

The Nifty metals index closed 2.74% higher and led gains among the domestic sectors.

Tata Motors was the biggest gainer, finishing up 10.89% after recording its best intra-day gain since October last year.

Zee Entertainment was the biggest laggard, falling 7.3%.

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