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Sensex rises 200 points, Nifty at 17,400 after RBI raises repo rate by 50 bps

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Two major equity benchmarks Sensex and Nifty ended in the green on Friday with largely firm Asian markets, after the Reserve Bank of India (RBI) hiked repo rates by 50 basis points (bps) to 5.4 per cent. started business. With this rate-hike, the central bank has so far increased the interest rates by 140 bps.

At 10.45 am, the BSE Sensex rose 196 points to 58,494, while the broader NSE Nifty rose 54 points to 17,436.

UltraTech Cement, Bharti Airtel, Larsen & Toubro, Wipro, Dr Reddy’s Laboratories, State Bank of India, ICICI Bank and Titan were the major gainers in the 30-share Sensex platform. On the other hand, Reliance Industries, Maruti Suzuki India, IndusInd Bank and HDFC were the laggards.

On the NSE, Nifty Bank and Nifty Realty were up up to 0.4 per cent, while Nifty Auto was down 0.1 per cent.

On Friday, 24 stocks are rising on the BSE, while six are down on the 30-share BSE benchmark.

In the previous session, the BSE Sensex closed down 51 points (0.09 per cent) at 58,298 on Thursday, while the Nifty closed 6 points (0.04 per cent) down at 17,382.

“Market momentum is now influenced by global cues and strong FII buying… A fall in Brent crude to $94 is positive for India’s macros and a fall below 106 in the dollar index bodes well for capital inflows into India. gives.” VK Vijayakumar, Chief Investment Strategist, Geojit Financial Services said.

In the Asian market, Seoul, Shanghai and Tokyo were trading in the green, while Hong Kong declined. On Thursday, the US markets closed with a mixed trend.

Meanwhile, the rupee rose 46 paise to 78.94 against the US dollar in early trade on Friday.

At the interbank foreign exchange, the rupee opened at 79.15 against the US dollar, then touched 78.94, registering a gain of 46 paise over its previous close.

On Thursday, the rupee declined by 25 paise to close at 79.40 against the dollar.

International oil benchmark Brent crude rose 0.15 per cent to $94.26 per barrel.

Foreign institutional investors remained net buyers in the capital market as they bought shares worth Rs 1,474.77 crore on Thursday, according to exchange data.

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