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Markets Update: Sensex, Nifty continue winning streak after RBI keeps rate unchanged; bank, financial stocks surge the most
At around 01:17 pm, the BSE Sensex jumped over 900 points or 1.56 per cent to 58534, while the Nifty50 gained over 257 points or 1.5 per cent to 17434 intraday today.
The Indian markets continue their winning streak for the second straight session intraday as the Reserve Bank of India’s Monetary Policy Committee kept the benchmark interest rates unchanged to 4 per cent and maintained an accommodative stance for the ninth consecutive time on Wednesday.
At around 01:17 pm, the BSE Sensex jumped over 900 points or 1.56 per cent to 58534, while the Nifty50 gained over 257 points or 1.5 per cent to 17434 intraday today. Following the suite of benchmarks, even the broader markets are gaining intraday, as mid and small-cap are up 1.4 and 1.9 per cent.
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As many as 45 stocks were in the green, and 5 in the red on the Nifty50 intraday. On the back of RBI’s decision to keep policy rate unchanged the banking and financial stocks surged most intraday today. In this regard, Bajaj twins — Bajaj Finance and Bajaj Finserv each jumped between 2.5-3.5 per cent.
Similarly, banking heavyweights such as ICICI Bank, SBI also gained the most by over 3 and 2.6 per cent respectively. Other stocks such as Grasim, Infosys, Britannia, Tata Motors, HCL Tech, Asian Paints, Tata Steel, Hindalco, Adani Ports, and L&T each jumped between 2-3 per cent intraday.
On the contrary, HDFC Life becomes a top loser in the otherwise strong market intraday today Divis Lab Power Grid, and Kotak Bank are other stocks trading negative intraday.
All sectors are trading in the green, Nifty Bank and Financial Services gaining most by over 1.5 per cent each, followed by Auto, FMCG, IT and Metal indices. While Nifty Realty and Media is leading the surge in the broader markets intraday today.
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