MARKET UPDATE:Sensex leaped 700 points at 49,900 and Nifty50 index jumped 200 points and hit 14,880-mark
Published On: Thursday, April 8, 2021 | By: Team KnowMyStock
The Indian equity markets welcomed the decision of RBI governorShaktikanta Das to keep rates unchanged during the first bi-monthly monetary policy of FY22, along with holding the GDP growth rate steady at 10.5 percent for the new financial year. Despite the recent surge in Covid-19 cases, the governor said the central bank and the government are prepared to tackle the second wave. Soothed by the comments, the benchmark S&P BSE Sensex index leaped 700 points and hit the day's high of 49,900. The Nifty50, meanwhile, jumped nearly 200 points and hit 14,880 on the back of an across-the-board buying. Banking and financial stocks outperformed on Wednesday with the Nifty Bank, Private Bank, and PSU Bank indices settling higher in the range of 1.5 percent to 2 percent. The Nifty Financial Services, IT, Pharma, Metal, and Realty indices, on the other hand, gained up to 1.5 percent.
Overall, the Sensex index gained 460 points, or 0.9 per cent, to end at 49,662 levels while the Nifty index closed at 14,819 levels, up 135 points.
In the broader markets, smallcap stocks outrun both, mid and largcap peers. The S&P BSE SmallCap index was last up 1.3 per cent while the BSE MidCap index added 0.8 per cent.
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