Mumbai, First Published Apr 8, 2022, 3:50 PM IST
The Bombay Stock Exchange and the National Stock Exchange ended the day on a positive note with the announcement that the Reserve Bank’s monetary policy will not raise interest rates and stimulate economic growth.
Reserve Bank Notice
The stock market has been in a slump for the past three days and today it has come to an end.
The Reserve Bank of India’s biennial monetary policy meeting is being held today. Speaking on the occasion, Governor Shakti Kantha Das announced that the repo rate would remain stable. He said that despite the high inflation in the country, there was no change in interest rates this time with the aim of encouraging economic growth.
Sensex rises
Investors were thus delighted and eagerly bought the shares as the interest rate remained unchanged. The trade, which started the morning on a positive note, ended with a weed profit after the RBI announcement
The Bombay Stock Exchange benchmark Sensex ended 412 points higher at 59,447 points in the evening trade. At the National Stock Exchange, the Nifty was up 161 points at 17,800
ITC Profit
Of the 30 major stocks in the Mumbai Stock Exchange, 25 ended with gains. Only 5 stocks declined. ITC shares rose 4 percent to a 52-week high. Mahindra & Mahindra, Reliance, Tata Steel, Titan, Nestle, Doctrines, Ultratech, Infosys, Asian Paints, Bajaj Pinserv, Bajaj Accounting, Axis Bank, Wipro, Hindustan Unilever, Kodak Bank, ICI Bank, ICI The shares ended in profit. Shares of HDFC Twins, Maruti, NTPC, Sunpharma, Techmakindra and HCL Tech fell.
Nifty
Shares of Grossim Industries, SBI Insurance, JSW, Mahindra & Mahindra were the top gainers in the Nifty. Cipla, NTPC, Tech Mahindra, Maruti Suzuki and Sun Pharma also traded higher. The FPMCG, metals, power, oil and gas sectors were the top gainers in the Nifty.
Last Updated Apr 8, 2022, 3:50 PM IST