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RBI liquidity measures cheer markets; Sensex up 327 pts, Nifty tops 11,900

All that happened in the markets today

Topics
Markets | RBI Policy | Shaktikanta Das

SI Reporter  | New Delhi 

EVENT HIGHLIGHTS

BSE, Markets
The Nifty50 index settled above the 11,900-mark at 11,914, up 80 points, or 0.67 per cent. (Photo: Kamlesh Pednekar)
Continuing their gaining streak for the seventh session in a row, the benchmark indices ended nearly a per cent higher on Friday after the monetary policy committee (MPC) of the RBI left the repo rate unchanged at 4 per cent but announced a slew of liquidity measures to support the economy.

Further, RBI Governor said the stance of the policy would remain “accommodative,” for “as long as necessary – at least during the current financial year and into the next year – to revive growth. READ MORE
 
The S&P BSE Sensex today ended 327 points, or 0.81 per cent higher at 40,509 levels while the Nifty50 index settled above the 11,900-mark at 11,914, up 80 points, or 0.67 per cent. On a weekly basis, Sensex rallied 4.6 per cent and Nifty gained 4.3 per cent.

ICICI Bank and Axis Bank (both up 3.64 per cent) were the top Sensex gainers, followed by SBI, and HDFC Bank (both up 3.5 per cent).

The Nifty sectoral indices were mixed. While Nifty Bank gained nearly 3 per cent to 23,847 levels, Nifty Pharma ended as the biggest loser - down over 1.3 per cent. 

In the broader market, the S&P BSE MidCap index slipped 0.42 per cent while the S&P BSE SmallCap ended 0.29 per cent lower at 14,966 levels. 

Global markets

World shares pushed on from one-month highs, with Asian stocks closing in on two-and-a-half-year highs, as expectations grew of a Democratic victory in US elections next month, reviving hopes for more US stimulus.

The pan-European STOXX 600 index rose 0.3 per cent, set for its second straight week of gains. Wall Street futures were up 0.4 per cent.

MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.3 per cent, inching closer to its August 31 peak, which was its highest level since March 2018. China's CSI300 index gained 2 per cent after the Golden Week holidays.

In commodities, oil prices fell, erasing earlier gains but still leaving both benchmarks on track for their biggest weekly gains since early June on the back of supply cuts caused by a storm in the Gulf of Mexico and a strike of offshore workers in Norway.

(With inputs from Reuters)

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