ANI
05 Aug 2022, 18:25 GMT+10
Mumbai (Maharashtra) [India], August 5 (ANI): The Indian stock market's benchmark Sensex closed 89 points higher in a volatile session on Friday after the Reserve Bank of India (RBI) hiked the policy repo rate by 50 basis points to tame inflation.
The 30 stock SP BSE Sensex ended the day at 58,387.93 points, which is 89.13 points or 0.15 per cent higher than its previous day's close at 58,298.80 points.
The market witnessed volatile trading. The Sensex started the day in the positive at 58,421.04 points and rose to a high of 58,649.19 points in the intra-day. The Sensex briefly slipped into negative in the afternoon session touching a low of 58,244.86 points in the intra-day.
The Sensex has closed in the positive for the seventh time out of the past eight trading sessions. The index had closed 51.73 points or 0.09 per cent down on Thursday after six consecutive sessions of gains.
The broader Nifty 50 of the National Stock Exchange closed 15.50 points or 0.09 per cent higher at 17,397.50 points against its previous day's close at 17,382.00 points.
The Nifty has closed in the positive for the seventh time out of the past eight trading sessions. The Nifty had lost 6.15 points or 0.04 per cent on Thursday, after six consecutive sessions of gains.
Key indices of the Indian equities markets closed in the positive after the Reserve Bank of India (RBI) hiked policy repo rate by 50 basis points.
The Monetary Policy Committee that met during 3-5 August unanimously decided to increase the policy repo rate by 50 basis points to 5.4 per cent, with immediate effect.
Consequently, the standing deposit facility (SDF) rate stands adjusted to 5.15 per cent; and the marginal standing facility (MSF) rate and the Bank Rate to 5.65 per cent. The MPC also decided to remain focused on withdrawal of accommodation to ensure that inflation remains within the target going forward, while supporting growth.
There was good buying support in infra and banking stocks. UltraTech Cement surged 2.86 per cent to Rs 6780.60. ICICI Bank rose 2.26 per cent to Rs 838.40. Power Grid Corporation jumped 1.20 per cent to Rs 223.50.
Infosys, Wipro, Axis Bank, NTPC, Hindustan Unilever, Nestle India, ITC and LT were among the major Sensex gainers.
Out of the 30 scrips that are part of the benchmark Sensex, 13 closed in the negative.
MahindraMahindra slumped 2.04 per cent to Rs 1236.20. The company's share slumped after the announcement of the quarterly results.
MahindraMahindra (MM) on Friday reported a standalone net profit of Rs Rs 1,430.2 crore for the quarter ended June 30, 2022, registering a year-on-year growth of 67 per cent. The company reported the highest ever quarterly standalone revenue for auto and farm segments at Rs 18,995 crore for the first quarter of the current financial year.
The index heavyweight Reliance Industries Limited closed 1.46 per cent down at Rs 2533.95. Maruti Suzuki fell 1.50 per cent to Rs 8836.05. IndusInd Bank, Bajaj Finserv, State Bank of India, Sun Pharma and Tata Steel were among the major Sensex losers. (ANI)Get a daily dose of Knoxville Times news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Knoxville Times.
More InformationLONDON, U.K.: Physically backed gold exchange-traded funds recorded their most significant semi-annual inflow since the first half...
AMSTERDAM, Netherlands: Some 32 percent of global semiconductor production could face climate change-related copper supply disruptions...
NEW YORK, New York - U.S. stocks rebounded Tuesday with all the major indices gaining ground. Markets in the UK, Europe and Canada...
NEW YORK CITY, New York: Financial markets kicked off the week on a cautious note as President Donald Trump rolled out a fresh round...
RIO DE JANEIRO, Brazil: At a two-day summit over the weekend, the BRICS bloc of emerging economies issued a joint declaration condemning...
LONDON, U.K.: This week, BP appointed Simon Henry, former Shell finance chief, to its board as a non-executive director effective September...
WASHINGTON, D.C.: Travelers at U.S. airports will no longer need to remove their shoes during security screenings, Department of Homeland...
WASHINGTON, D.C.: An elaborate impersonation scheme involving artificial intelligence targeted senior U.S. and foreign officials in...
SLUBICE, Poland: Poland reinstated border controls with Germany and Lithuania on July 7, following Germany's earlier reintroduction...
WASHINGTON, D.C.: After months of warnings from former federal officials and weather experts, the deadly flash floods that struck the...
MOSCOW, Russia: Just hours after his sudden dismissal by President Vladimir Putin, Russia's former transport minister, Roman Starovoit,...
DHARAMSHALA, India: The Dalai Lama turned 90 on July 6, celebrated by thousands of followers in the Himalayan town of Dharamshala,...