Sensex surges 400 pts ahead of RBI policy, Nifty gains 124 points

New Delhi: Market indices opened sharply higher on Thursday, with the Sensex rising 383.96 points to 33,403.03 and the Nifty gaining 124.10 points at 10,252.50, ahead of the announcement by Reserve Bank of India's (RBI) Monetary Policy Committee (MPC), later in the day.

The market breadth remained strong, with about eight shares advancing for every share falling on the Bombay Stock Exchange (BSE).

All sectoral indices were in the green, with the metal, realty rising more than two percent.

Apollo Tyres rallied 4.5 percent while Balkrishna Industries and MRF gained approximately three percent.

Hindalco, UPL Ltd., Tata Motors, Vedanta and Bajaj Finance gained about two to three percent.

Bharti Infratel and Bharti Airtel lost approximately one percent.