- By Aditya Pratap Singh
- Fri, 07 Jun 2024 04:07 PM (IST)
- Source:JND
Stock Market Closing: Expanding their gains for the third straight session, Indian stock market indices, Sensex and Nifty 50, concluded at fresh closing levels on Friday, June 7, after the Reserve Bank of India maintained the status quo on repo rate and policy stance while revising GDP estimates for FY25 and beyond.
Nifty, Sensex recovered June 4 loss
After a sharp loss of 6% on June 4, market indices have been up with decent gains in June so far. Sensex surged by about 3.7%, while Nifty 50 went up by about 3.4% in the first week of June. The Sensex touched an all-time high of 76,795.31 during the session before concluding 1,619 points, or 2.16%, higher at 76,693.36, with all components moving in the green. The Nifty 50 index closed 469 points, or 2.05%, higher at 23,290.15, with only two stocks – SBI Life (down 1.03%) and Tata Consumer (down 0.43%) – in the red.
The BSE Midcap index climbed 1.28%, while the Smallcap index concluded with gains of 2.18%.
The aggregate market capitalization of companies listed on the BSE rose to almost Rs 423.4 lakh crore from around Rs 415.9 lakh crore in the previous session, making investors richer by around Rs 7.5 lakh crore in a single trading session.
Also Read: Stock Market: Sensex Closes At Fresh High Of 76,693.36; Nifty 50 Ends at 23,290.15
The Reserve Bank of India left key interest rates unchanged on Friday as expected, keeping the focus on inflation amid strong economic growth that is likely to provide Modi’s new government with room to maneuver with reforms.
With India’s economy, Asia’s third-largest, growing faster than expected in the previous year, the Reserve Bank of India has raised its GDP growth forecast for the current fiscal year ending March 2023 to 7.2% from 7% while maintaining inflation expectations at 4.5%. The cent.
All 30 Sensex companies ended in positive territory, with Tech Mahindra, Bharti Airtel, Mahindra & Mahindra, Wipro, Tata Steel, and Infosys emerging as the top gainers.
In Asian markets, Seoul and Shanghai markets settled in positive territory, while Tokyo and Hong Kong ended lower. European markets were trading lower. U.S. markets ended mixed on Thursday. Brent crude, the global benchmark, rose 0.04% to $79.95 a barrel.
