Market Closing: Indices close higher post RBI’s announcement; Sensex above 38000

The markets added to early gains after the RBI announced the repo rates to remain unchanged. Sensex crossed 38200 jumping 560 points.

The markets added to early gains after the RBI announced the repo rates to remain unchanged. Sensex crossed 38200 jumping 560 points. IT stocks were in firm action as Infosys and HCL tech ended in top gainers.

At closing, Sensex gained 362.12 points or 0.96% to close at 38025.45, Nifty rested at 11205 up by 103.70 points or 0.93%. Nifty bank was trading higher by 150.85 points or 0.70% to close at 21660.80, ICICI Bank as the top gainer surging 2%.

The RBI Monetary policy kept the repo rates unchanged at 4% while the Real GDP to be in the negative zone. The market gained upward sentiment post the Governor’s address.

The market in the early session continued to jump higher also maintaining the streak for the 3rd consecutive day led by Banking and IT stocks initially.

Highlights as of Closing Bell:

  • Higher trading session tracking positive global cues and RBI’s MPC.
  • Infosys, UPL, M&M Financial, Bajaj Finance among the top gainers of Nifty.
  • Infosys surged nearly 3%, UPl surged 2.70% and M&M Financial gained 6.41%.
  • Eicher Motors, Shree Cements, Bharti Airtel the top losers of Nifty.
  • Eicher motors and Shree Cements slipped over 250 points each.
  • Pharma stocks outperform in the session with Cipla, Sun Pharma, Torrent Pharma hitting the record highs.
  • Almost all sectoral indices end green except Nifty Infra, Pharma, IT, FMCG shine.
  • About 971 shares advanced and 641 shares declined at market closing.

 

 

 

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