Stock Market: Sensex Gains 364 Points; Nifty Ends Over 19,650 After RBI MPC. All Sectors In The Green
Stock update: On the 30-share Sensex platform, Bajaj twins, Titan, IndusInd Bank, ITC, JSW Steel, Infosys emerged gainers. HUL, Asian Paints, Airtel, L&T, HDFC Bank, Axis Bank were among the losers
The two key equity benchmarks, Sensex and Nifty, on Friday closed in the positive territory as the Reserve Bank of India (RBI) kept repo rate unchanged at 6.5 per cent for a fourth straight policy. The central bank in the MPC also maintained inflation and GDP growth forecast for FY24 at 5.4 per cent and 6.5 per cent, respectively, despite global headwinds. The S&P BSE Sensex jumped 364 points to end at 65,996. The NSE Nifty50, on the other hand, closed at 19,654, up 108 points.
On the 30-share Sensex platform, Bajaj twins, Titan, IndusInd Bank, ITC, JSW Steel, Infosys emerged gainers. On the downside, HUL, Asian Paints, Airtel, L&T, HDFC Bank, Axis Bank were among the losers.
#ABPStockMarketWatch | Sensex and Nifty, on Friday closed in the positive territory as the RBI kept repo rate unchanged at 6.5% for a fourth straight policy
— ABP LIVE (@abplive) October 6, 2023
At 4:00 PM, #Sensex rose by 364 points to 65,996 & #Nifty by 108 points to 19,654
Here's a look at the stocks in focus:… pic.twitter.com/AM0l92VAy9
In the broader markets, the BSE Midcap and Smallcap index up 0.66 per cent and 0.56 per cent, respectively.
Sectorally, all the indices settled in the green, with realty index up 3 per cent, while Financials, Information Technology, FMCG, Metal, Auto, Power, Healthcare rose 0.4-1 per cent.
In the previous session on Thursday, the Sensex gained 406 points to end at 65,632, while the NSE Nifty50 advanced 110 points to close shop at 19,546.
In Asian markets, Seoul, and Hong Kong ended in positive territory while Tokyo settled lower.
European markets were trading in the green. The US markets ended marginally lower on Thursday.
Global oil benchmark Brent crude declined 0.02 per cent to $83.94 a barrel.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 1,864.20 crore on Thursday, according to exchange data.
Meanwhile, the rupee appreciated 4 paise to settle at 83.21 (provisional) against the US dollar on Friday amid positive equity markets as the Reserve Bank kept the repo rate unchanged in its fourth consecutive monetary policy review. Selling pressure from foreign equity investors amid elevated levels of the greenback, however, restricted the upward movement of the local currency, according to forex traders.
At the interbank foreign exchange, the domestic unit opened at 83.21 against the dollar and traded between a high of 83.28 and a low of 83.18. It finally settled at 83.21 (provisional) against the dollar, up 4 paise over Thursday's closing level of 83.25.
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