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
 "MARKETS: RIL, IT stocks push Sensex 450 pts up; Realty index under pressure")
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 GDP growth forecast at 9.5 per cent for the on-going fiscal year and revised CPI inflation 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 S&P BSE Sensex 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.
3:55 PM
TECH VIEW :: Rohit Singre, Senior Technical Analyst at LKP Securities
Index closed a week at 17895 with gains of two percent on a weekly basis and formed a bullish candle on the weekly chart. Index has reached to strong hurdle zone of 17950 where we can see sort of double top formation & if index managed to cross above said levels decisively then we may see good move towards 18300-18500 zone in near term but if failed then we may see some more consolidation in the overall range of 17300-18000 zone, immediate support is coming near 17820-17730 zone.
3:54 PM
CLOSING COMMENTS :: Vinod Nair, Head Of Research at Geojit Financial Services
Domestic indices traded higher with optimism underpinned by dovish RBI policy and mixed global cues due to US jobs data awaited later in the day. RBI kept rates unchanged and maintained the status quo on accommodative stance. FY22 GDP growth was maintained at 9.5% while trimming inflation worries by lowering CPI forecast from 5.7% to 5.3%, provided the push to the market. On the sectoral front, the IT sector was in focus ahead of the result releases of sectoral majors while realty and FMCG succumbed to profit booking.
3:54 PM
Nazara extends gains for the 7th day, ends 15% higher
3:47 PM
TCS hits new high ahead of Q2 earnings later today
3:46 PM
RIL gains 4%, market cap nears Rs 18 trillion
3:44 PM
India VIX cools off 3%
> Volatility index or India VIX ended 3.11% down at 15.65
3:43 PM
Sector Watch :: IT, PSU Bank index shine; realty pack tanks
3:41 PM
Broader markets largely lag benchmark Nifty50
3:35 PM
RIL contributes to two-third of Sensex's total gains
3:35 PM
Sensex Heatmap | Top gainers & losers at close
3:33 PM
CLOSING BELL :: Nifty ends near 17,900
3:33 PM
CLOSING BELL :: Sensex ends above 60,000 mark after a gap of 8 sessions
>> RBI's dovish policy stance and promise of caliberated tightening boosted investor sentiment
3:23 PM
TCS Q2 preview: Analysts see up to 33 % PAT growth; deal wins eyed
Global brokerage HSBC eyes a 32.8 per cent year-on-year (YoY) and 10.2 per cent quarter-on-quarter (QoQ) rise in the net profit at Rs 9,926.6 crore. The firm had reported a consolidated net profit of Rs 7475 crore in the same quarter a year ago and Rs 9,008 crore in the preceding quarter. READ MORE
3:15 PM
Nasdaq is getting trounced by an Indian tech gauge this year
The S&P BSE Information Technology Index has gained more than 48 per cent this year, trouncing the Nasdaq 100’s performance by about 31 percentage points and heading for the biggest annual beat since 2009. READ MORE
3:00 PM
NEWS ALERT :: Maharashtra Seamless bags order worth Rs 237 crore
>> The company has successfully bagged Rs 237 crore order from Oil and Natural Gas Corporation Limited (ONGC) for supply of Seamless Casings pipes.
Topics : Inflation MARKET LIVE MARKET WRAP stock market S&P BSE Sensex NSE Nifty Midcap smallcap SGX Nifty RBI Policy Q2 results TCS Wall Street Global Markets Rate sensitive stocks Shaktikanta Das bond yield RBI repo rate GDP growth
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First Published: Oct 08 2021 | 8:22 AM IST
