Indian Stock Market Closing Today: Domestic stock markets closed higher on Friday after the Reserve Bank of India (RBI) proposed to keep the policy interest rates stable and give approval for giving loans to ‘Real Estate Investment Trust’ (REIT). Sensex gained 266 points, while Nifty 50 saw a gain of 51 points.
Due to buying in the last phase of the trading session, BSE’s 30-share benchmark index Sensex rose by 266.47 points or 0.32 percent and closed at 83,580.40 points.
During trading, Sensex saw a sharp rise of 655.05 points from the day’s low of 82,925.35. At the same time, NSE’s 50-share standard index Nifty closed at 25,693.70 points with a gain of 50.90 points or 0.20 percent. There was a lot of volatility in the market during trading.
There was no change in the repo rate
RBI decided to keep the repo rate unchanged at 5.25 percent in its bi-monthly monetary policy review. This decision was taken unanimously in the six-member Monetary Policy Committee (MPC) of the central bank. Along with this, RBI also maintained its neutral monetary stance. Which indicates that at present there is little possibility of change in rates.
There was rise and fall in these shares
Among Sensex companies, ITC recorded the highest rise of 5.09 percent. Apart from this, shares of Kotak Mahindra Bank, Hindustan Unilever, Bharti Airtel, Bajaj Finance, Power Grid and Bajaj Finserv were also in gain. On the other hand, shares of Tata Consultancy Services (TCS), Tech Mahindra, Adani Ports, Asian Paints, Eternal and HCL Tech closed with a falling trend.
RBI Governor Sanjay Malhotra informed about the proposal to approve lending to REITs to promote financing in the real estate sector. However, banks will be given this approval only with some prudent security measures. This announcement is expected to provide long-term financial support to the real estate and credit ecosystem.
Condition of other markets in Asia
In other markets of Asia, South Korea’s Kospi, China’s Shanghai Composite and Hong Kong’s Hang Seng were in loss, while Japan’s Nikkei closed with gains. A bullish trend was seen in most of the European markets in afternoon trading. American markets closed with a decline on Thursday.
Vinod Nair, head of research, Geojit Investments Limited, said, “Most of the time there was soft trading in the domestic stock markets. But at the end of the session, the indices rose due to buying in FMCG and private bank shares. Nair said that the monetary policy of RBI was in line with the expectations and said that it has given positive signals regarding growth.
Disclaimer: (The information provided here is being given for information only. It is important to mention here that investment in the market is subject to market risks. Always take expert advice before investing money as an investor. ABPLive.com never advises anyone to invest money here.)
Also read: This multibagger stock changed the fortunes of investors; Return of Rs 78 lakh given on investment of Rs 1 lakh, know details
Khanderao Deshmukh aims to guide job seekers by delivering accurate, timely, and easy-to-understand information, helping them secure stable government careers.
