Sensex increases by more than 450 points when RBI maintains status at prime rate; Trade Nifty Over 17,600
Mid and small cap stocks are in positive territory.
New Delhi: Indian stock indexes rose sharply on Thursday after the Reserve Bank of India (RBI) kept key interest rates unchanged to support economic growth. Benchmark BSE Sensex rose 459 points or 0.78% to 58,925 in late trades, while the broader NSE Nifty rose 139 points or 0.80% higher to 17,603.
The Reserve 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 central bank has kept the key repo rate at a record low since May 2020 and has reiterated again and again that it will continue to support growth and maintain an accommodative stance until the economy recovers. solid recovery.
Midcaps and small caps are in positive territory as the Nifty Midcap 100 index gained 0.32% and small caps traded 0.26% higher.
In terms of specific stocks, Kotak Mahindra Bank was the top gainer Nifty as the stock rose 2.31% to Rs 1,877.45. HDFC twins (HDFC and HDFC Bank), ONGC and Tata Steel were also among the gainers.
In contrast, Maruti Suzuki India, Indian Oil Corp, Dr Reddy’s, Shree Cement and Nestle India are among the laggards.
On BSE, market breadth was a bit weak with 1,596 shares gaining while 1,675 shares declined.
On the 30-stock BSE platform, Kotak Bank, HDFC twins, Tata Steel, PowerGrid and SBI attracted the most gains with their shares up as much as 2.54%.
Sensex rose 657 points or 1.14% to reach 58,466 on Wednesday, while the broader NSE Nifty gained 197 points, or 1.14%, to close at 17,464.
