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Stock Market Soars to New Heights Amid RBI Decision

Stock Market Soars to New Heights Amid RBI Decision

The Indian share market posted significant gains after the Reserve Bank of India (RBI) decided to keep the policy rate unchanged for the eighth consecutive time. The 30-share Sensex surged over 1,600 points to reach a record high of 76,787 points, while the Nifty rose by more than 450 points during the day. This marks the third straight session of gains following an initial rout on vote counting day. The Sensex, a BSE benchmark, has increased by 2,995.46 points or 4.15% over the previous two sessions, recovering most of the losses from the vote counting day.

All Sensex stocks advanced today, with Wipro, Infosys, Tech Mahindra, Bajaj Finserv, Tata Steel, and Tata Consultancy Services among the biggest gainers in the pack.

The RBI's announcement this morning to keep its key lending rate steady at 6.5% reflects its commitment to maintaining a tight vigil on inflation. This decision has positively impacted investor sentiment, contributing to the market rally.

Earlier in the week, the markets had fallen nearly 6% on the vote counting day due to the BJP not securing a clear majority in the Lok Sabha elections. On Tuesday, the Sensex closed at 72,079 points, a day after rallying to 76,468 points based on exit poll predictions. However, value buying led to a resurgence in successive sessions, with the BSE benchmark regaining the 76,000 level by Friday.

The robust performance of the market demonstrates investor confidence and resilience, driven by the RBI's steady policy stance and the overall positive outlook for the Indian economy. Despite the initial volatility caused by political uncertainties, the market's recovery underscores the strong fundamentals and optimistic sentiment among investors.

Stock Market Soars to New Heights Amid RBI Decision

Stock Market Soars to New Heights Amid RBI Decision

The Indian share market posted significant gains after the Reserve Bank of India (RBI) decided to keep the policy rate unchanged for the eighth consecutive time. The 30-share Sensex surged over 1,600 points to reach a record high of 76,787 points, while the Nifty rose by more than 450 points during the day. This marks the third straight session of gains following an initial rout on vote counting day. The Sensex, a BSE benchmark, has increased by 2,995.46 points or 4.15% over the previous two sessions, recovering most of the losses from the vote counting day.

All Sensex stocks advanced today, with Wipro, Infosys, Tech Mahindra, Bajaj Finserv, Tata Steel, and Tata Consultancy Services among the biggest gainers in the pack.

The RBI's announcement this morning to keep its key lending rate steady at 6.5% reflects its commitment to maintaining a tight vigil on inflation. This decision has positively impacted investor sentiment, contributing to the market rally.

Earlier in the week, the markets had fallen nearly 6% on the vote counting day due to the BJP not securing a clear majority in the Lok Sabha elections. On Tuesday, the Sensex closed at 72,079 points, a day after rallying to 76,468 points based on exit poll predictions. However, value buying led to a resurgence in successive sessions, with the BSE benchmark regaining the 76,000 level by Friday.

The robust performance of the market demonstrates investor confidence and resilience, driven by the RBI's steady policy stance and the overall positive outlook for the Indian economy. Despite the initial volatility caused by political uncertainties, the market's recovery underscores the strong fundamentals and optimistic sentiment among investors.

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