Markets hold on to early gains after RBI monetary policy decision
The Hindu
Benchmark equity indices jumped in late morning trade, extending their rally to the third straight session, after the RBI decided to keep the policy rate unchanged
Benchmark equity indices jumped in late morning trade on June 7, extending their rally to the third straight session, after the RBI decided to keep the policy rate unchanged for the eighth time in a row, in line with market expectations.
Buying in IT stocks added to the positive trend in markets.
The 30-share BSE Sensex jumped 907.43 points to 75,981.94 during the late morning trade. The NSE Nifty went up by 260.95 points to 23,082.35.
Interest rate-sensitive bank, realty and auto stocks were trading with gains.
In the past two days, the BSE benchmark surged 2,995.46 points or 4.15% after Tuesday's massive rout.
The Reserve Bank of India (RBI) on Friday decided to keep the policy rate unchanged for the eighth time in a row, saying it will maintain a tight vigil on inflation.
Announcing the second bi-monthly monetary policy for the current financial year, RBI Governor Shaktikanta Das said the Monetary Policy Committee (MPC) has decided to keep the repo rate unchanged at 6.5%.
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Adani Enterprises Ltd stock dips on NSE and BSE after Kenyan project cancellations and U.S. court allegations.
HSBC Flash India PMI shows uptick in private sector activity, with rising cost pressures and increased prices for customers.
Rupee rises slightly against US dollar amid geopolitical pressures, foreign outflows, and domestic equities; Brent oil surges.
Sensex and Nifty rebound in early trade driven by value buying, bank stock rally, and positive global cues.
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