National benchmarks turned bullish after the dismal start to Friday morning’s session. Benchmarks Sensex and Nifty had both started to rally in the green as the RBI raised the key rate to 5.9%. The stock market posted a stellar performance late afternoon today as investors cheered the outcome of the RBI (Reserve Bank of India) policy.
Nifty and Sensex jumped around 2% each with broader and stronger markets. However, on the sector front, the banking index outperformed rising around 3% with the auto and metals index in the fast lane.
At around 2:05 p.m., Sensex was trading at 57,529.64 over 1119.68 points or 01.98%. Nifty 50 traded at 17,131.50 points higher by 313.40 points or 1.86%
The main bulls on NSE are: Hindalco (+5.1%), IndusInd Bank (+4%), Bajaj Finserv (+3.54%) supported by Tata Steel (+3.51%) and Bajaj Finance (+3 .40%). Meanwhile, the main losers on NSE are: Asian Paints (-0.75%), Hindustan Unilever (-0.74%), Britannia (-0.56%), TCS (-0.21%) and Tech Mahindra (-0.19%).
Elsewhere, on the global front, the Stoxx Europe 600 rose 1.1%.
Meanwhile, today Shaktikanta Das announced the RBI MPC’s decision to raise the repo rate by 50 basis points to 5.9% and cut the FY23 GDP forecast to 7% down from 7.2% earlier at the RBI policy meeting held in the morning.
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