Acording to analysts, the gains came on the back of the Reserve Bank's positive outlook along with its decision to maintain the accommodative stance and measures for a liquidity boost.
Representative Image
Mumbai:
Despite a status quo in key lending rates, the Indian equity indices remained in the green during Friday's afternoon trade session.
Acording to analysts, the gains came on the back of the Reserve Bank's positive outlook along with its decision to maintain the accommodative stance and measures for a liquidity boost.
Consequently, the S&P BSE Banking index traded at 40,428.92 at around 12.30 p .m., higher by 246.25 points, or 0.61 per cent, from its previous close.
The Nifty50, on the National Stock Exchange, traded at 11,900, higher by 65.40 points, or 0.55 per cent, from its previous close.
"Nifty after easing at the start of the day, reversed direction and rose following the announcement of MPC meet outcome," said Deepak Jasani, Head of Retail Research at HDFC Securities.
"In the process Nifty made a new recent high. Financials and Capital Goods stocks have done well while FMCG has underperformed."
Conversations