At 10:30 IST, the barometer index, the S&P BSE Sensex was gained 551.33 points or 0.72% to 75,613.86. The Nifty 50 index rose 167.35 points or 0.73% to 22,988.75.
In the broader market, the S&P BSE Mid-Cap index added 0.61% and the S&P BSE Small-Cap index advanced 1.50%.
The market breadth was strong. On the BSE, 2,669 shares rose and 827 shares fell. A total of 128 shares were unchanged.
RBI Monetary Policy Outcome:
The Reserve Bank of India (RBI) Governor Shaktikanta Das announced its second bi-monthly monetary policy for the 2024-25 financial year, following the Lok Sabha election results. The six-member Monetary Policy Committee (MPC) decided to keep the benchmark repo rate unchanged at 6.5% for eight consecutive times, continuing the stance of 'withdrawal of accommodation'. The RBI raised its GDP growth forecast for FY25 to 7.2% from 7%, while maintaining its inflation forecast at 4.5%.
Buzzing Index:
The Nifty IT index gained 2.82% to 34,982.25. The index surged 8.25% in three consecutive trading sessions.
Also Read
Wipro (up 4.89%), Mphasis (up 4.79%), Persistent Systems (up 4.36%), Coforge (up 4.2%), LTIMindtree (up 3.63%), L&T Technology Services (up 3.51%), Tech Mahindra (up 3.43%), Infosys (up 3.12%), Tata Consultancy Services (up 1.71%) and HCL Technologies (up 1.47%) advanced.
Stocks in Spotlight:
Wipro rallied 4.89% after the IT giant received order by a leading US communication service provider for $500 million.
Hero MotoCorp rose 0.56%. The company said that its board has approved the purchase of additional 2.2% stake in Ather Energy, an associate company, from an existing shareholder for a total consideration of Rs 124 crore.
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