CLOSING BELL: The benchmark indices snapped their seven-day losing streak as the RBI delivered a 50-basis point repo rate hike, and underscored the resilience of the Indian economy in his statement

Sensex jumps 1,017 pts on RBI's 50-bps hike; Nifty nears 17,100; banks lead

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		<b>CLOSING BELL<br />
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		Stock market highlights:&nbsp;</b>The Reserve Bank of India&#39;s in-line monetary policy action lifted equities on Friday. The benchmark indices snapped their seven-day losing streak as the RBI delivered a 50-basis point repo rate hike, and underscored the resilience of the Indian economy in his statement.&nbsp;</div>
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		At the index level, the S&P BSE Sensex climbed 1,313 points intra-day before cooling off a little to end at 57,427, up 1,017 points or 1.8 per cent. The NSE Nifty50, meanwhile, inched closer to 17,200 level before ending at 17,094, up 276 points or 1.64 per cent.</div>
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		26 of the 30 Sensex constituents, and 41 of the 50 Nifty constituents closed in the positive zone led by Hindalco, Bharti Airtel, IndusInd Bank, Bajaj Finance, Kotak Bank, Titan, HDFC Bank, Bajaj Finserv, Tata Steel, and ICICI Bank. These shares rallied between 2 per cent and 5.6 per cent.</div>
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		The list of losers included Asian Paints, Coal India, Dr Reddy&#39;s Labs, Britannia, Adani Enterprises, and ITC.&nbsp;</div>
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		Among sectors, the Nifty PSU Bank, and Private Bank indices advanced around 3 per cent each, followed by the Nifty Metal, and Financial Services indices, up 2 per cent each.</div>
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		<strong>RBI Policy outcome :: Key highlights</strong></div>
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		The Reserve Bank of India (RBI)&rsquo;s Monetary Policy Committee (MPC) announced a 50 basis points (bps) hike in the repo rate to 5.90 per cent on Friday in order to bring elevated inflation back to its target. Taking Friday&rsquo;s rate hike into consideration, the MPC has hiked the benchmark policy rate by 190 bps in the current financial year. <a href="https://www.business-standard.com/article/finance/rbi-monetary-policy-repo-rate-up-by-50-bps-to-5-9-gdp-forecast-slashed-122093000186_1.html" target="_blank"><strong>READ MORE</strong></a></div>
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Business Standard

Sensex jumps 1,017 pts on RBI's 50-bps hike; Nifty nears 17,100; banks lead | News on Markets - Business Standard

DIIs buy Rs 3,162 crore worth of equities Thursday

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FIIs bearish on Thursday: Sell shares worth Rs 3,599 crore

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RBI policy: How inflation, repo rate and demand are linked to each other

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	With the RBI MPC due to announce its decision today, we explain how inflation, repo rate and demand are linked to each other. <a href="https://www.business-standard.com/article/finance/rbi-policy-how-inflation-repo-rate-and-demand-are-linked-to-each-other-122092900560_1.html?1664506513" target="_blank"><strong>Read more</strong><br />
	<img alt="Photo: Bloomberg" src="https://bsmedia.business-standard.com/_media/bs/img/article/2022-06/13/full/1655117805-7712.jpg?im=Resize,width=640" /></a></div>

Bloomberg: RBI to hike repo rate by 50 bps for 3rd time in a row

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	The Reserve Bank of India&#39;s six-member monetary policy committee will raise its repurchase rate by 50 basis points to 5.9%, according to 24 of 35 economists surveyed by Bloomberg as of Wednesday. <a href="https://www.business-standard.com/article/economy-policy/rbi-to-hike-repo-rate-by-50-bps-for-3rd-time-in-a-row-as-rupee-slumps-122092900087_1.html?1664506577" target="_blank"><strong>Read more</strong><br />
	<img alt="Photo: Bloomberg" src="https://bsmedia.business-standard.com/_media/bs/img/article/2022-09/28/full/1664331345-4133.jpg?im=Resize,width=640" /></a></div>

GLOBAL DATA | China Sep manufacturing PMI at 50.1, beats estimates

China&rsquo;s official manufacturing Purchasing Managers&rsquo; Index surprisingly grew in September to 50.1, much higher than the 49.6 predicted by analysts in a Reuters poll.

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	With the RBI MPC expected to announce its decision on Friday, we explain how inflation, repo rate and demand are linked to each other. <a href="https://www.business-standard.com/article/finance/rbi-policy-how-inflation-repo-rate-and-demand-are-linked-to-each-other-122092900560_1.html?1664506513" target="_blank"><strong>Read more</strong><br />
	<img alt="Photo: Bloomberg" src="https://bsmedia.business-standard.com/_media/bs/img/article/2022-06/13/full/1655117805-7712.jpg?im=Resize,width=640" /></a></div>

Lower start likely as SGX Nifty trades in red

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Brent Crude holds $88 per barrel in early trade

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US equity futures trade tepid in post-market hours

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Asian stocks slide as recession fears send Wall St into a tailspin

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US markets sharply drop Thursday; S&P500 closes at new year low

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