Closing Bell: Nifty ends at a record high, Sensex surges by 381 points after RBI keeps rates unchanged.

Closing Bell: Nifty ends at a record high, Sensex surges by 381 points after RBI keeps rates unchanged.

by 5paisa Research Team Last Updated: Oct 29, 2021 - 02:49 pm 50.1k Views
Listen icon

Nifty ends at a record high, Sensex surges by 381 points after RBI keeps rates unchanged on October 8, 2021.

Domestic equity benchmarks Sensex and Nifty extended gains to a second straight day on Friday, October 8, 2021, after the RBI decided to keep the key rates unchanged and remain 'accommodative' after the scheduled review meeting. The market was cheerful about the announcements with the concerns about an earlier-than-expected tightening of monetary policy. Buying in oil and gas, IT, and PSU banking shares lifted the market. IT bellwether TCS was in focus ahead of the Q2 earnings announcement by the company.

On Friday, the Sensex closed 381 points or 0.6% higher at 60,059.1, while the broader Nifty 50 benchmark surged by 104.9 points to settle at a record of 17,895.2. Losses in pharmaceutical and FMCG counters limited the upside. The market extended rally for a second consecutive session and as a result, closed higher in four out of five sessions this week. It was mainly driven by positive global cues, and RBI policy, and the September quarter earnings.

On a sectoral basis, BSE IT and BSE Energy indices witnessed buying interest gaining 1.82% and 2.65%, respectively. The rest of the indices chose to remain subtle and traded almost flat on Friday. In the broader markets, the BSE Smallcap index ended 0.92% higher and the BSE Midcap index was up by 0.16% at the closing bell.

The Reserve Bank of India in its policy review meeting, kept the key lending rate or the repo rate steady at 4%, while the reverse repo rate or the borrowing rate also stayed unchanged at 3.35%.

Reserve Bank of India Governor Shaktikanta Das in his policy address said that, "There should not be any concern about the adequacy of liquidity in the banking system to support recovery or financial markets. Our entire approach is of gradualism, we don't want suddenness or surprises".

With bullish sentiments flowing in the markets, Reliance Industries, Wipro, Infosys, Tata Motors were the top gainers of the day, while SBI, NTPC and Maruti Suzuki were the top losers.

Share Market Today

How do you rate this article?

Start Investing in 5 mins*

Rs. 20 Flat Per Order | 0% Brokerage


About the Author

Our research team is composed of some highly qualified research professionals, their expertise range across sectors.

Enjoy 0%* Brokerage with 5paisa
Resend OTP
Please Enter OTP
Mobile No. belongs to

By proceeding, you agree to the T&C.

Latest News
Polymatech Electronics: ₹1,500 Crore IPO for Semiconductor Expansion

Polymatech Electronics, prominent semiconductor chip manufacturer based in Chennai, is gearing up for significant financial move with plans to launch₹1,500 cr initial public offering (IPO) by end of year. This IPO, double size initially envisaged, signifies company’s ambitious expansion strategy in semiconductor industry.

Vodafone Idea Sets Floor and Cap Prices for FPO Amid Market Speculation

In a major development, Vodafone Idea Ltd. has revealed the floor price and cap price, alongside the lot size, for its upcoming follow-on public offering (FPO). The telecom giant witnessed a decrease of more than 3.25% during early trading on Wednesday, settling at ₹12.51, thus holding a market capitalization exceeding ₹61,000 crore.

Bondada Engineering Share Price Surged by 1423.2%, Know Why?

Bondada Engineering, standout in integrated infrastructure sector, witnessed extraordinary surge in its share price, soaring by impressive 1423.2% since its debut on BSE SME platform in August 2023. Investors who were part of IPO allocation saw significant gains, potentially earning 18.3 lakhs in just over eight months.