Sensex rebounds 377 pts, Nifty closes above 17,850 as RBI slows down rate hike

Mumbai, Feb 8 (PTI) Benchmark Sensex rebounded 377 points while Nifty closed above the 17,850 level on buying in IT, financial and oil stocks after the RBI slowed down the pace of interest rate hikes on Wednesday.

Ending its two-day slide, the 30-share BSE Sensex rose by 377.75 points or 0.63 per cent to close at 60,663.79 with 24 of its constituents posting gains.

The broader Nifty of the NSE spurted by 150.20 points or 0.85 per cent to settle at 17,871.70, riding on a rally in Adani Enterprises, Adani Ports and HDFC Life. The index opened higher and gained further to test the crucial hurdle at 17,900 in the day. Buying in index majors Reliance Industries, Infosys and TCS played a key role in the rebound.