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Thursday, July 18, 2024

Stock markets increase when the RBI maintains the repo rate

<p>Following the Reserve Bank’s decision to leave policy rates unchanged, the benchmark stock indexes Sensex and Nifty rose for a second consecutive day on Friday, helping rate-sensitive industries including finance, real estate, and auto make gains.<img decoding=”async” class=”alignnone wp-image-221230″ src=”https://www.theindiaprint.com/wp-content/uploads/2023/10/theindiaprint.com-stock-markets-increase-when-the-rbi-maintains-the-repo-rate-stock-market-1-11zon-1.jpg” alt=”theindiaprint.com stock markets increase when the rbi maintains the repo rate stock market 1 11zon 1″ width=”1215″ height=”809″ srcset=”https://www.theindiaprint.com/wp-content/uploads/2023/10/theindiaprint.com-stock-markets-increase-when-the-rbi-maintains-the-repo-rate-stock-market-1-11zon-1.jpg 509w, https://www.theindiaprint.com/wp-content/uploads/2023/10/theindiaprint.com-stock-markets-increase-when-the-rbi-maintains-the-repo-rate-stock-market-1-11zon-1-150×100.jpg 150w” sizes=”(max-width: 1215px) 100vw, 1215px” title=”Stock markets increase when the RBI maintains the repo rate 12″></p>
<p>A strong trend in the Asian and European markets also helped investors feel more optimistic, according to dealers.</p>
<p>To reach 65,995.63, the 30-share BSE Sensex gained 364.06 points, or 0.55 percent. It increased by 464.24 points or 0.70 percent over the day to reach 66,095.81.</p>
<p>To finish at 19,653.50, the Nifty gained 107.75 points, or 0.55 percent.</p>
<p>Bajaj Finserv and Bajaj Finance both had gains among the Sensex companies, rising by close to 6% and 4%, respectively. IndusInd Bank, ITC, JSW Steel, Infosys, Tech Mahindra, Tata Consultancy Services, and Maruti were the next companies to increase by 2.98 percent.</p>
<p>Those that lagged behind included Hindustan Unilever, Asian Paints, Bharti Airtel, and HDFC Bank.</p>
<p>Due to the continued high risk of inflation, the Reserve Bank of India held its benchmark interest rate steady on Friday as predicted. In addition, it said it will maintain tight liquidity by utilizing bond sales to bring prices closer to goal.</p>
<p>The benchmark repurchase rate (repo) was maintained at 6.50 percent for a fourth consecutive meeting by the monetary policy committee, which consists of three central bank employees and an equal number of outside participants. It maintained its ‘withdrawal of accommodation’ policy.</p>
<p>Seoul and Hong Kong closed the Asian markets in the black, but Tokyo closed down.</p>
<p>Markets in Europe were trading in the black. The US stock market declined slightly on Thursday.</p>
<p>Benchmark Brent crude for all crude oil prices fell 0.02 percent to $83.94 per barrel.</p>
<p>The BSE benchmark increased by 405.53 points or 0.62 percent on Thursday to close at 65,631.57 points. To finish at 19,545.75 points, the Nifty had increased by 109.65 points, or 0.56 percent.</p>
<p>According to exchange statistics, foreign institutional investors (FIIs) sold stocks on Thursday worth Rs 1,864.20 crore.</p>
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