The Reserve Bank of India kept the repo rate unchanged at four percent in its monetary policy meeting earlier today
Market indices closed nearly one percent higher on Wednesday, 7 April, led by the banking stocks. The trading session began flat but gained momentum after the Reserve Bank of India (RBI) kept the repo rate unchanged at four percent in its monetary policy meeting.
The BSE Sensex surged 460.37 points or 0.94 percent to close at 49,661.76. State Bank of India (SBI), Mahindra and Mahindra, Nestle, IndusInd Bank and ICICI Bank were the top gainers. While there were only three laggards for the day — Titan, NTPC and Hindustan Unilever.
Top BSE Sensex gainers:
SBI gained 2.25 percent to settle the day at Rs 358.45. It was followed by other two banking stocks in the top five gainers list including ICICI Bank which hiked 2.05 percent to settle at Rs 577.55 and IndusInd Bank which jumped 2.02 percent to close at Rs 945.80.
Mahindra and Mahindra closed at Rs 796.40 with a gain of 1.95 percent while Nestle India witnessed a surge of 2.02 percent to close at Rs 17,422.95.
Top BSE Sensex Losers:
Titan lost 0.78 percent to settle the day at Rs 1,513.95 followed by NTPC and Hindustan Unilever, which closed at Rs 105.45 down by 0.47 percent and Rs 2,404.10 decreasing by 0.14 percent respectively.
National Stock Exchange (NSE)
The NSE Nifty closed higher at 14,819.05, up 135.55 points or 0.92 percent. Talking about the sectors, Nifty Auto and Nifty IT surged more than one percent while Nifty Pharma and Nifty FMCG settled the day with a hike of more than 0.5 percent.
Top gainers on NSE Nifty:
JSW Steel gained 5.33 percent to become the top gainer and settled at Rs 566.10. Wipro jumped 2.36 percent to close at Rs 437.25 while SBI, IndusInd Bank and SBI Life closed with a gain of over two percent.
Top losers on NSE Nifty:
Adani Ports became the worst performer of the day as the shares fell 2.76 percent to close at Rs 812.45. Tata Consumer Products and UPL lost over one percent while Titan and NTPC declined by 0.52 percent.