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RBI's dovish policy gives Sensex 381-pts boost; RIL up 4%, IT stocks shine

The central bank also retained the GDP growth forecast at 9.5% for the on-going fiscal year and revised CPI inflation projection downward to 5.3% which also supported sentiment

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SI Reporter  | New Delhi 


The RBI's seemingly dovish policy, with repo and reverse repo rates unchanged at 4 per cent and 3.35 per cent, respectively, bolstered bull sentiment on Dalal Street on Friday. The central bank also retained the forecast at 9.5 per cent for the on-going fiscal year and revised CPI projection downward to 5.3 per cent for the whole fiscal (from 5.7 per cent) which further supproted the sentiment. READ ABOUT IT HERE

Overall, the frontline closed the session at 60,059 levels, up 381 points, while the Nifty50 ended at 17,895 levels, up 105 points.

Reliance Industries, which hit a record high of Rs 2,684 apiece in the intra-day trade, settled nearly 4 per cent higher and contributed nearly 2/3rd towards Sensex's gains today. Other contributors included Infosys, TCS, L&T, HCL Tech, and ICICI Bank.

In the broader markets, the BSE MidCap index ended 0.15 per cent higher and the BSE SmallCap index added 0.92 per cent. Both the indices hit a record high of 25,956 and 29,358, respectively, earlier today.


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