Closing bell: Eyeing the RBI policy, markets end positive; RCom shares hit all- time low

Ahead of RBI rate policy on Wednesday, key indices on Tuesday end on positive note for consecutive third day. 

The Monetary Policy Committee headed by RBI governor Urjit Patel started two-day deliberations today with industry and the government hoping for interest rate cut to spur growth which fell to 3-year low of 5.7 per cent in the June quarter, while experts expect status quo.

The fourth bi-monthly monetary policy statement for 2017-18, to be released tomorrow, is being keenly awaited by all stakeholders -- especially the industry which has been demanding for lower interest rates

The 30-share BSE Sensex was up 213.66 points at 31,497.38 and the 50-share NSE Nifty rose 70.90 points to 9,859.50.

About 1,415 shares advanced against 1,292 declining shares on the BSE.

Shares of Tata Sponge Iron ltd, Gujarat Narmada Valley Fertilizers & Chemicals ltd, Hindustan Zinc ltd amd Jindal Steel were among the top gainers on BSE today. 

Anil Ambani led Reliance Communications was the biggest loser of the day. The comapny's share fell to all-time low of Rs 17.10 after the merger talks with Aircel went off the track. 

TVS Motor Company today reported a 23% increase in total sales at 3,59,850 units in September.