RBI’s monetary policy has been welcomed by the market today. In today’s business, both Sensex and Nifty have seen a good growth. The Sensex closed with a gain of nearly 400 points. While Nifty has crossed 17850. Today there is good buying in IT, Pharma and Metal stocks. Other sectoral indices also closed in the green. Good buying was seen in heavyweight stocks. Currently, the Sensex has gained 378 points and has closed at the level of 60,664. While the Nifty closed at 17,872 with a gain of 150 points.
Adani Group shares rise
Adani Group shares have seen recovery for the second consecutive day. After witnessing heavy selling for 9 consecutive days, the group’s shares have gained momentum from the second day. In today’s business, the stock of Adani Enterprises, the flagship company of Adani Group, has gained 14 percent. While Adani Power, Adani Wilmar and NDTV have upper circuit. Except Adani Total Gas, all the shares of the group are in the green. Let us tell you that in a continuous decline of 9 days, the market cap of the group companies decreased to half. After which, in order to win the confidence of investors, the promoters of Adani Group decided to repay more than $ 110 million ahead of time to redeem the pledged shares.
21 stocks of Sensex 30 closed in green mark
Today’s top gainers include BAJFINANCE,RIL, Infosys, WIPRO, HCLTECH, TCS, TATAMOTORS, TECHM. While top losers included LT, Airtel, Axis Bank, Kotak Bank, HUL, HDFC Bank.
The metal index on Nifty has strengthened by more than 3 per cent. While the IT and Pharma index has gained about 1.5 per cent.
Repo rate increased to 6.5 percent
The Reserve Bank of India (RBI) has hiked interest rates for the sixth time since May this year. The Reserve Bank increased the repo rate by 25 basis points, due to which it has increased from 6.25 percent to 6.50 percent.
GDP growth estimated at 6.4 per cent in FY24
The RBI governor says that GDP growth is likely to be 7.8 per cent in the first quarter of FY24. While the real GDP growth in FY24 is expected to be 6.4 percent. Inflation is expected to ease from 6.7 per cent to 6.5 per cent in FY23. While the inflation rate is expected to come down from 5.9 per cent to 5.6 per cent in the fourth quarter of FY23.