The Reserve Bank of India’s policy announcement had an impact on the domestic market and closed up on the last trading day of the week. This is the seventh consecutive trading session when the Sensex-Nifty closed strongly. The Bombay Stock Exchange’s flagship index Sensex gained 0.81 percent to close at 40509.49, up 326.82 points. At the same time, the National Stock Exchange’s Nifty gained 0.67 percent (79.60 points) to close at 11914.20.
Market affected by RBI announcements
The Reserve Bank has retained the policy rate at four per cent. The reverse repo rate has also been kept constant at 3.35 per cent. The RBI said that GDP is expected to increase in the last quarter of the current financial year. However, it has also retained the scope to cut the policy repo rate to support the economy in future in the wake of the Coronavirus pandemic. For this, the Reserve Bank has kept its stance liberal.
Situation of top shares
Talking about the big stocks, today shares of Wipro, ICICI Bank, Axis Bank, SBI and HDFC Bank closed on the green mark. Grasim, Hindalco, UPL, Sun Pharma and SBI Life stocks closed in the red mark.
Sectoral index tracking
Looking at the sectoral index, PSU banks, private banks, IT, finance services and banks gained today and FMCG, Media, Metal, Pharma, Realty and Auto closed in the red mark.
The market opened on the edge
The Sensex started 43.58 points higher at 40226.25 and the Nifty opened at 11852.05 with a slight gain of 0.15 per cent or 17.45 points. After this, the Sensex and Nifty were trading at 40401.06 and 11911.95 respectively at 11.07 am.
The Sensex-Nifty closed in the sixth consecutive trading session on the previous trading day. The Sensex gained 0.73 percent to close at 40148.86, up 291.75 points. The Nifty closed at the level of 11834.60 with a gain of 0.82 per cent (95.75 points).
