Business

Sensex, Nifty Close At All-Time Highs As RBI Raises GDP Growth Projections

Benchmark equity indices Sensex and Nifty rose over 2 percent to close at record highs on Friday after the Reserve Bank of India (RBI) increased the GDP growth projection to 7.2 percent for 2024-25 from 7 percent earlier.

The 30-share BSE Sensex surged 1618.85, or 2.15 percent to 76,693.36. During the day it rose 1,720.8 points to a new high of 76,795.31. The NSE Nifty advanced 468.75 points, or 2.05 percent to 23,290.15.

Following Tuesday’s dramatic tumble, the Sensex has risen 2,995.46 points, or 4.15 percent, over the last two days.

Mahindra & Mahindra, Wipro, Tech Mahindra, Infosys, UltraTech Cement, Tata Motors-DVR, Bharti Airtel, Tata Steel, and Bajaj Finance were the top gainers.

Among the laggards were SBI Life Insurance, Tata Consumer, Jindal Steel & Power, Bosch, and Adani Green Energy.

The Reserve Bank of India (RBI) decided on Friday to leave the policy rate steady for the eighth time in a row, saying it will keep a close eye on inflation.

RBI Governor Shaktikanta Das announced the second bi-monthly monetary policy for the current fiscal year, saying the Monetary Policy Committee (MPC) has decided to hold the repo rate unchanged at 6.5 percent.

The Reserve Bank raised its GDP growth projection for the current fiscal to 7.2 percent from 7 percent, citing increased private consumption and a resurgence of demand in rural areas.

In Asian markets, Singapore, South Korea, Malaysia, Shanghai, and Thailand closed in positive territory, while Tokyo, Hong Kong, Indonesia, and Taiwan ended in negative territory.

European stocks were trading lower.

US markets closed on a mixed note on Thursday.

Brent crude gained 0.04 percent to USD 79.95 per barrel.

According to exchange data, Foreign Institutional Investors (FIIs) sold equities worth Rs 6,867.72 crore on Thursday.

On Thursday, the Sensex climbed 692.27 points or 0.93 percent to 75,074.51, while the Nifty jumped 201.05 points or 0.89 percent to 22,821.40.

Also read: Ahead Of Paris 2024 Games, Olympic Rings On Eiffel Tower Unveiled

Spriha Rai

Recent Posts

Yogi Government Launches Massive Green Initiative For Maha Kumbh 2025

The Yogi Adityanath administration has launched a tree-planting campaign to make Prayagraj environmentally sustainable for…

5 mins ago

BJP MLA Rajeshwar Singh Calls On Akhilesh Yadav To Act As Positive Opposition In UP DGP Debate

Singh noted that, over seven years, police encounters have killed 197 criminals and injured 6,329.…

16 mins ago

Election Commission Appoints Sanjay Kumar Verma As New DGP For Maharashtra

The Election Commission of India endorsed the appointment of Sanjay Kumar Verma as the new…

46 mins ago

Devotees Mistakenly Collect AC Condensation As ‘Charan Amrit’ At Mathura Temple

Devotees at Mathura's Banke Bihari temple gathered to collect water dripping from a sculpted elephant,…

1 hour ago

State Cannot Claim Private Property Under Article 39(b): Supreme Court

A nine-judge SC bench ruled that the State cannot indiscriminately seize private property for redistribution…

2 hours ago

RG Kar Case: Junior Doctors In West Bengal Protest Alleged Gaps In CBI Chargesheet

Junior doctors in WB protested Tuesday over alleged flaws in the CBI chargesheet on their…

2 hours ago