Mumbai/UNI: Extending gains for the fourth straight session, the BSE on Thursday rallied by 163.37 points to end strong at 41,306.03, a two-week-high after the RBI kept the repo rate unchanged at 5.15 per cent and maintained 'accommodative' stance in its sixth bi-monthly monetary policy review of the financial year 2019-20 (FY20).
The National Stock Exchange (NSE) too rose by 44.50 points to 12,133.65.
The Nifty registered days high and low at 12,160.60 and 12,084.65 points respectively.
The Sensex opened higher at 41,209.13, by 67 points. It spurted by 263 points to 41,405.43, day high before closing at 41,306.03, advancing by 163.37 points from its last close.
The sectoral indices like Materials, Finance, Health Care, Telecom, Bankex,Technology stocks kept the rally intact for the fourth day today.
Sentiment improved after RBI estimated a 6 pc GDP growth rate for 2020-21 while projecting a 6.2 pc growth rate for Q3 December 2020. It revised the CPI inflation projection for Q4 March 2020 to 6.5 pc and 5.4-5 pc in the first six months of 2020-21 and 3.2 pc in the third quarter of 2020-21.
On the basis of an assessment of the current and evolving macroeconomic situation, MPC at its meeting today (6 February 2020) decided to keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 5.15 pc.
Consequently, the reverse repo rate under the LAF remains unchanged at 4.90 pc and the marginal standing facility (MSF) rate and the Bank Rate at 5.40 pc.
In the broader market, the S&P BSE Mid-Cap index rose 0.80 pc while the S&P BSE Small-Cap index gained 0.53 pc. Both these indices outperformed the Sensex.
The market breadth was tilted towards buyers. On the BSE, 1388 shares rose and 1064 shares fell. A total of 168 shares were unchanged. In Nifty 50 index, 29 stocks advanced while 21 stocks declined.
European shares extended gains while Asian stocks ended higher on Thursday after US S&P 500 hit a record peak following encouraging economic data, while investors keep a wary eye on the impact of the coronavirus outbreak.
Image credit : UNI
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