Markets

Sensex ends 163 pts higher after RBI policy

A view of the BSE building in Mumbai. File

A view of the BSE building in Mumbai. File   | Photo Credit: PTI

The 30-share BSE Sensex settled 163.37 points, or 0.40%, higher at 41,306.03. It hit an intra-day high of 41,405.43.

Rising for the fourth straight session, market benchmark Sensex ended 163 points higher on Thursday after the RBI left the policy rates unchanged but maintained its accommodative stance to boost growth.

In the sixth bi-monthly monetary policy review of 2019-20, the central bank also kept the GDP growth rate estimate unchanged for the current fiscal at 5% and projected a pick up in growth to 6% in the next financial year.

The 30-share BSE Sensex settled 163.37 points, or 0.40 per cent, higher at 41,306.03. It hit an intra-day high of 41,405.43.

Similarly, the broader NSE Nifty rose 48.80 points, or 0.40 per cent, to 12,137.95.

IndusInd Bank was the top gainer in the Sensex pack, rallying over 4 per cent, followed by SBI, Bajaj Finance, Bharti Airtel, Axis Bank, Sun Pharma, HDFC and PowerGrid.

On the other hand, Titan, Infosys, ITC, Kotak Bank and Asian Paints were among the laggards.

Rate-sensitive financial and banking stocks rallied, with BSE bankex and finance rising up to 1.21 per cent. However, realty settled in the red.

According to experts, RBI’s accommodative stance bodes well for investors despite no change in policy rates.

The central bank’s six-member Monetary Policy Committee voted unanimously to hold the benchmark rate at 5.15%, but also said that there was “policy space available for further action“.

Bourses in Shanghai, Hong Kong, Tokyo and Seoul settled up to 2.88 per cent higher.

Stock exchanges in Europe too opened on a positive note.

Meanwhile, Brent crude oil futures advanced 0.25 per cent to USD 55.42 per barrel.

On the currency front, the Indian rupee appreciated marginally to 71.23 per US dollar (intra-day).

Why you should pay for quality journalism - Click to know more

Recommended for you
This article is closed for comments.
Please Email the Editor

Printable version | Apr 4, 2020 9:25:58 PM | https://www.thehindu.com/business/markets/sensex-ends-163-pts-higher-after-rbi-policy/article30751618.ece

Next Story