Sensex, Nifty rise for 5th day in a row; financial shares advance on RBI policy decision
The Hindu
Buying in index majors HDFC Bank and Reliance Industries also added to the optimism in the equity market.
Benchmark indices Sensex and Nifty closed higher on Thursday, extending the winning streak to the fifth straight session after the RBI unexpectedly kept policy rates unchanged as global banking woes added uncertainty to the economic outlook.
Buying in index majors HDFC Bank and Reliance Industries also added to the optimism in the equity market.
Bouncing back from early fall, the 30-share BSE Sensex rose by 143.66 points or 0.24% to settle at 59,832.97. During the day, it advanced 260.75 points or 0.43% to 59,950.06.
The broader NSE Nifty gained 42.10 points or 0.24% to finish at 17,599.15 after falling in initial trade.
After raising interest rate by a cumulative 250 basis points in 11 months, the Reserve Bank of India (RBI) on Thursday unexpectedly kept benchmark rate unchanged as global banking woes added uncertainty to the economic outlook.
RBI Governor Shaktikanta Das however pledged to hike interest rate again if needed, saying the decision to pause was "for this meeting only".
The RBI's six-member Monetary Policy Committee voted unanimously to keep the repurchase or repo rate unchanged at 6.50%.
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