HomeBusinessSensex, Nifty end at fresh records after RBI Monetary Policy outcome

Sensex, Nifty end at fresh records after RBI Monetary Policy outcome

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Extending its winning run to the fifth session, equity benchmark Sensex jumped 117 points on Friday after the Reserve Bank kept interest rates unchanged but continued its accommodative stance to revive growth.

The 30-share BSE benchmark briefly crossed the 51,000-level, before ending 117.34 points or 0.23 per cent higher at its fresh closing record of 50,731.63.

Similarly, the 50-share NSE Nifty scaled the 15,000 mark during the day but shed some ground to close at its all-time high of 14,924.25, up 28.60 points or 0.19 per cent.

SBI was the top gainer in the Sensex pack, rallying over 10 per cent, followed by Kotak Bank, Dr Reddy’s, UltraTech Cement, ITC and HDFC Bank.

On the other hand, Axis Bank, Bharti Airtel, ICICI Bank, Maruti and HCL Tech were among the laggards.

Domestic equities remained buoyant and benchmark Nifty surpassed the psychologically-key 15,000 level before settling lower, said Binod Modi, Head Strategy at Reliance Securities.

“Notably, RBI policy outcome was also broadly on expected line, while announcements about allowing retail participation in bond markets through GILT Account, extension of HTM restoration to 19.5 per cent up to June’23 and availability of funds under on tap TLTRO for NFBCs bolstered investors’ confidence,” he said.

Banking index, especially PSU banks, witnessed sharp rally, followed by pharma and FMCG indices.

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