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Sensex adds 460 points with RBI unchanged key rate, Nifty steady above 17,600


Sensex adds 460 points with RBI unchanged key rate, Nifty steady above 17,600

Both indexes have gained more than 2% for three consecutive trading sessions.

New Delhi: Indian stock indexes continued to rise on Thursday after the Reserve Bank of India (RBI) kept key interest rates unchanged to support economic growth. The central bank’s Monetary Policy Committee (MPC) has kept the lending rate, or repo rate, at 4% and the reverse repo rate, or key borrowing rate, at 3.35%.

The 30-share BSE rose 460 points, or 0.79%, to 58,926, while the broader NSE Nifty gained 142 points, or 0.81%, to close at 17,606. Both indexes have gained more than 2% for three consecutive trading sessions.

Mid- and small-cap stocks were positive as the Nifty Midcap 100 index gained 0.29% and small-cap stocks gained 0.47%.

Thirteen of the 15 industry measures – compiled by the National Stock Exchange – are shown in green. Nifty Metal outperformed this metric with a 1.24% gain.

On the stock-specific front, ONGC was the top Nifty gainer as the stock rose 3.63% to Rs 169.90. Tata Steel, Infosys, SBI Life and HDFC Bank were also among the gainers.

In contrast, Maruti Suzuki India, Indian Oil Corp, Shree Cement, UltraTech Cements and Adani Ports were among the losers.

In addition, Adani Wilmar rallied up to 19.98% to reach the upper circuit limit of Rs 381.80, valuing the company at Rs 49,621. Shares have risen about 66% from the issue price of Rs 230 in just three trading sessions.

“The market has seen some strong trends and is struggling to hold support around the Nifty 50 index level of 17,600. While sustaining above 17,400 is a key factor from a short-term perspective, market research. The market shows that sustaining above this level is important for Vijay Dhanotiya, Category Head – HNI Product at CapitalVia Global Research Limited.

Market breadth was slightly positive with 1,568 shares gaining while 1,769 stocks declined on the BSE.

On the 30-stock BSE platform, Tata Steel, Infosys, HDFC twins (HDFC and HDFC Bank), Kotak Mahindra Bank, M&M and PowerGrid attracted the most gains with their shares up as much as 1.96%. Maruti, Nestle India, Reliance Industries and Titan are among the laggards.



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