RBI Maintains Interest Rates, Sensex and Nifty Close Flat
The Reserve Bank of India (RBI) decided to keep interest rates unchanged after its 3-day MPC meeting. Despite fluctuations, the stock market closed flat on Friday, with Sensex rising marginally and Nifty experiencing a slight decline.
After the conclusion of a 3-day meeting by the RBI MPC, it has been decided to maintain the interest rates unchanged. On Friday (April 5), the stock market witnessed a flat closing with Sensex and Nifty experiencing fluctuations. The Bombay Stock Exchange Sensex, comprising 30 shares, closed at 74,248.22, marking a slight increase of 20.59 points or 0.03 percent. Meanwhile, the Nifty of the National Stock Exchange saw a marginal decline of 0.95 points, settling at 22,513.70. Notably, shares in the realty and banking sectors saw a rise.
In Friday's trading, top gainers of Nifty included Kotak Mahindra, SBI Life Insurance, HDFC Bank, Bajaj Finserv, and HDFC Life, while UltraTech Cement, Grasim Industries, Bajaj Auto, Bajaj Finance, and L&T were among the top losers.
It's worth noting that the market closed on a positive note on April 4, reaching a new record level. In the last trading session on April 4, the Sensex soared to its highest-ever level of 74,227.63, marking a gain of 350.81 points or 0.47 percent. Similarly, Nifty also achieved a new peak of 22,514.65, rising by 80 points or 0.36 percent.
The RBI maintained the repo rate at 6.5 percent in its first bi-monthly monetary policy review of the current financial year on Friday (April 5). This marks the seventh consecutive time the policy rate has remained unchanged. The decision aims to curb inflation to 4 percent while boosting economic growth amidst global uncertainties. Additionally, the RBI retained the GDP growth rate estimate at 7 percent for 2024-25, along with maintaining the retail inflation estimate for the current financial year at 4.5 percent.
