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The Sensex surged to an intraday high of 82,299.89 before closing at 82,189, up 746.95 points or 0.92%, while the Nifty50 climbed 252.15 points or 1.02%, settling at 25,003.05.
Stock Market Today
After a volatile start, Indian equity benchmark indices staged a sharp rebound as investors cheered the Reserve Bank of India’s Monetary Policy Committee (MPC) announcement of a 50-basis-point repo rate cut.
The Sensex surged to an intraday high of 82,299.89 before closing at 82,189, up 746.95 points or 0.92%. The Nifty50 climbed 252.15 points or 1.02%, settling at 25,003.05.
Broader markets also saw gains, with the Nifty Midcap100 and Nifty Smallcap100 indices rising 1.21% and 0.81%, respectively.
The RBI’s MPC front-loaded the rate cut while shifting its stance from ‘Accommodative’ to ‘Neutral’ in response to global growth headwinds. Additionally, the central bank announced a 100-basis-point cut in the cash reserve ratio (CRR), to be implemented in four tranches, to boost liquidity in the system.
On the sectoral front, all indices except Media ended in the green. Nifty Realty was the top performer, advancing 4.68%, driven by gains in Godrej Properties, Oberoi Realty, DLF, Prestige, Sobha, and Macrotech Developers. Other notable gainers included Nifty Bank, Metal, Auto, Financial Services, Consumer Durables, and IT, each up more than 1%.
Within the Sensex pack, 28 of the 30 stocks closed higher. Leading the rally were Bajaj Finance, Axis Bank, Maruti Suzuki, IndusInd Bank, Bajaj Finserv, Eicher Motors, Mahindra & Mahindra, and Tata Steel, with gains of up to 5%. Bharti Airtel and Sun Pharma were the only stocks to end lower.
Aparna Deb is a Subeditor and writes for the business vertical of News18.com. She has a nose for news that matters. She is inquisitive and curious about things. Among other things, financial markets, economy, a…Read More
Aparna Deb is a Subeditor and writes for the business vertical of News18.com. She has a nose for news that matters. She is inquisitive and curious about things. Among other things, financial markets, economy, a… Read More
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