Stock Market Today: RBI Rate Cut Boosts Markets; Sensex, Nifty End Week in Green
Indian stock markets closed higher as the RBI’s rate cut and ₹1.45 lakh crore bond-buying plan boosted investor confidence. Sensex jumped 447 points and Nifty gained 152 points. Check the full market report.
Sensex and Nifty closed the week with solid gains after the RBI’s rate cut and liquidity boost.
The Indian stock market had a great weekend, and all the losses it had at the beginning were washed away because of the Reserve Bank of India (RBI), which cut the key rate and let out major liquidity-boosting measures simultaneously. The RBI's move of buying bonds to the tune of ₹1.45 lakh crore almost reversed the wiped-out sentiment in the market and thus, accompanied the indices in their upward movement for the second consecutive day.
Effect of RBI: Markets Bounce Back Strongly
The Sensex at first opened lower by a little bit at 85,125.48, while the previous closing was 85,265.32. Well, the whole mood turned up soon enough after the RBI's announcements. The index's first day 85,700's point call was increasingly bullish and it reached an intraday high of 85,796.72 before finally closing at 85,712.37, up by 447.05 points.
Nifty50 too did not lag behind the market, and it gained 152.70 points to close at the level of 26,186.45. The Indian rupee dollar rate has been 89.99 at the day end.
Winners and Losers
Following stocks made the most of the day in the Sensex 30:
- SBI
- Bajaj Finserv
- Bajaj Finance
- Maruti Suzuki
- HCL Technologies
While Hindustan Unilever, NTPC, TMPV, Sun Pharma, and Trent were the top losers, among others.
Worldwide Market Overview
In the international market of commodities, Brent crude was selling at $63.10 per barrel, and Gold was $4,223 per ounce, indicating stable global signals.
