Stock Market: Sensex, Nifty, Bank Nifty cheer RBI credit policy announcements
RBI Governor Shaktikanta Das led Monetary Policy Committee (MPC) has kept key rates unchanged. He has made a number of other announcements that have been welcomed by the market, which shot up sharply.
RBI Governor Shaktikanta Das led Monetary Policy Committee (MPC) has kept key rates unchanged. He has made a number of other announcements that have been welcomed by the market, which shot up sharply. BSE Sensex further extended its early morning gains to the tune of over 150 points. NSE Nifty touched 11,889 intraday high while the Bank Nifty soared to its intraday high of 23,554.
Speaking on the RBI Credit Policy impact on the Indian stock market, expert Ajay Bagga said, "The RBI policy is in sync with the market expectations and the RBI Governor has struck a balance between the inflation and demand for liquidity. In fact, the RBI Governor Shaktikanta Das has indicated that his hands are not bound by the rising inflation and this got reflected in the Rs 1 lakh crore liquidity in the next three years." He said that it was a market-friendly policy.
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VK Sharma of HDFC Securities said, "It's a market-friendly policy and will inject fresh positive momentum in the markets and it is getting reflected in the markets too as it has shot up immediately after the RBI policy announcement."
Consumer durable, financial and banking stocks were the major gainers post-RBI policy announcements. Consumer durable major Bharat Forge, Havells India, Grindwell Norton and Larsen & Toubro were among the leading gainers.
However, those which lost were Hindustan Lever, Nestle India, Bajaj Auto, Tech Mahindra and Tata Consultancy Services.
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