ETMarkets.comAfter a seven-day losing streak, the benchmark equity indices took a breather on Friday following positive commentary from RBI Shaktikanta Das at the end of the Monetary Policy Committee meeting.
The 30-share Sensex ended 1,016 points higher at 57,426. Its broader peer, Nifty50, ended at 17,094, up 276 points.
was the biggest gainer from the 30-share pack, rising 4.49 per cent to Rs 799.75. was up 3.78 per cent, increased 3.28 per cent, and surged 2.95 per cent. , , and also ended with gains.
Sectorally, the Nifty PSU Bank rose 3.01 per cent, and Nifty Financial Services surged 2,24 per cent. Nifty Metal and Nifty Realty also closed higher. Nifty Midcap50 and Smallcap50 rose 1.87 per cent and 1.48 per cent, respectively.
Vinod Nair, Head of Research at Geojit Financial Services, said that an in-line rate hike along with the RBI’s confidence in the economy’s growth momentum aided the domestic market and reversed the seven-day losing streak.
“The decision to retain inflation at 6.70 per cent with a marginal cut but a healthy GDP forecast of 7.0 per cent indicates the resilience of the Indian economy. Although the commentary warned about prevailing risks to the domestic economy from the global economy, the MPC refrained from sounding very hawkish,” Nair added.
Earlier in Asian Market, Japan’s Nikkei 225, China’s Shanghai Composite and South Korea’s Kospi declined 1.83 per cent, 0.55 per cent and 0.71 per cent, respectively.
The Indian rupee closed higher against the US dollar. The rupee ended 0.64 per cent higher at 81.34 per dollar, having sprinted to a high of 81.16 during the session.
The market capitalisation of all listed companies on BSE increased from Rs 3.72 lakh crore to Rs 271.86 lakh crore from Rs 268.14 lakh crore a day before.
The market breadth was skewed in favour of bulls. About 2,332 gained, 1,108 stocks declined, and 98 remained unchanged.
The 30-share Sensex ended 1,016 points higher at 57,426. Its broader peer, Nifty50, ended at 17,094, up 276 points.
was the biggest gainer from the 30-share pack, rising 4.49 per cent to Rs 799.75. was up 3.78 per cent, increased 3.28 per cent, and surged 2.95 per cent. , , and also ended with gains.
Sectorally, the Nifty PSU Bank rose 3.01 per cent, and Nifty Financial Services surged 2,24 per cent. Nifty Metal and Nifty Realty also closed higher. Nifty Midcap50 and Smallcap50 rose 1.87 per cent and 1.48 per cent, respectively.
Vinod Nair, Head of Research at Geojit Financial Services, said that an in-line rate hike along with the RBI’s confidence in the economy’s growth momentum aided the domestic market and reversed the seven-day losing streak.
“The decision to retain inflation at 6.70 per cent with a marginal cut but a healthy GDP forecast of 7.0 per cent indicates the resilience of the Indian economy. Although the commentary warned about prevailing risks to the domestic economy from the global economy, the MPC refrained from sounding very hawkish,” Nair added.
Earlier in Asian Market, Japan’s Nikkei 225, China’s Shanghai Composite and South Korea’s Kospi declined 1.83 per cent, 0.55 per cent and 0.71 per cent, respectively.
The Indian rupee closed higher against the US dollar. The rupee ended 0.64 per cent higher at 81.34 per dollar, having sprinted to a high of 81.16 during the session.
The market capitalisation of all listed companies on BSE increased from Rs 3.72 lakh crore to Rs 271.86 lakh crore from Rs 268.14 lakh crore a day before.
The market breadth was skewed in favour of bulls. About 2,332 gained, 1,108 stocks declined, and 98 remained unchanged.
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