Today, on the last trading day of the week i.e. Friday, the stock market recorded a strong rally. The decisions taken at the meeting of the Reserve Bank of India (RBI) monetary policy committee were announced by Governor Shaktikanta Das, after which the Sensex-Nifty touched new heights. The Bombay Stock Exchange's leading index Sensex gained 1.00 percent to close at the level of 45079.55, up 446.90 points. At the same time, the National Stock Exchange's Nifty gained 0.95 percent (124.65 points) to close at the level of 13258.55. Indian stock market, bond, and currency markets were closed on Monday to commemorate Guru Nanak Jayanti.
Shaktikanta Das made important announcements
Central Bank Governor Shaktikanta Das made the press conference and announced the decisions taken by the Monetary Policy Committee. The RBI has kept the repo rate stable at four percent. There is also no change in the reverse repo rate and bank rate. GDP growth is expected to be -7.5 percent for the entire financial year. RBI has raised its GDP growth forecast for the next quarter to 0.10 percent. Inflation based on the consumer price index is expected to be 6.8 percent in the third quarter and 5.8 percent in the fourth quarter.
Such was the situation of veteran shares
Talking about the big stocks, shares of Hindalco, Sun Pharma, Ultratech Cement, ICICI Bank, and Adani Ports closed on the green mark today. HDFC Life, Reliance, Bajaj Finserv, BPCL, and HCL Tech closed at the red mark.
Sectoral index tracking
If we look at the sectoral index, then all the sectors closed on the green mark today. These include banks, IT, private banks, finance services, PSU banks, FMCG, pharma, media, realty, auto, and metal.
The stock market recorded a weekly gain last week. The Bombay Stock Exchange's leading index Sensex gained 267.47 points, or 0.61 percent, to 44,149.72 points, and the National Stock Exchange's Nifty jumped 109.90 points, or 0.85 percent, to 12,968.95 points. It is known that the index has recovered the entire loss in the year 2020. It closed at 41,306.02 on January 1, 2020. However, according to analysts, further market volatility will continue. Hence investors should be cautious.
The market was open on the edge
The Sensex opened up 98.43 points (0.22 percent) to 44731.08 levels in the early trade amid mixed global cues and the Nifty opened 35.30 points higher at 13169.20 (0.27 percent).
The market closed on a modest increase on Thursday
The stock market closed at a modest edge on Thursday. The Sensex was up 14.61 points at 44632.65, up 0.03 percent. At the same time, the Nifty closed 0.13 percent up (20.15 points) at the 13133.90 level.