Mkts trade flat on positive note
Sensex, Nifty gain marginally to scale new peaks after RBI’s status quo policy decision; Oil price rise, tensions in the Middle East dampened investor sentiment; Bank, NBFC stocks gain after RBI status quo on Repo rate
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Mumbai: Equity benchmark index Sensex registered marginal gains to hit a fresh lifetime high of 74,248 on Friday after the Reserve Bank of India (RBI) maintained the status quo on key interest rates amid a negative trend in global markets. The six-member rate-setting panel of the Reserve Bank of India (RBI) on Friday kept the benchmark interest rates unchanged at 6.5 per cent for the seventh time in a row. It also expressed concerns over food inflation, given IMD’s prediction of above-normal maximum temperatures during April-June.
The 30-share BSE Sensex inched up 20.59 points or 0.03 per cent to settle at a fresh record of 74,248.22. The index oscillated between the intra-day peak of 74,361.11 and the low of 73,946.92. The broader NSE Nifty ended with a marginal loss of 0.95 points at 22,513.70. As many as 28 components of the 50-share benchmark ended in the red.
“Although the RBI policy meeting unfolded as anticipated, concerns over food inflation and warnings of a heat wave tampered sentiment. While the main domestic indices concluded with marginal movement, the Bank Nifty edged higher, propelled by robust credit growth in Q4 FY24. The global sentiment was dampened by the rise in oil prices and tensions in the Middle East.
