RBI liquidity measures cheer markets; Sensex up 327 pts, Nifty tops 11,900

 RBI liquidity measures cheer markets; Sensex up 327 pts, Nifty tops 11,900

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Among sectors, bank, infra, IT indices ended in the green, while selling witnessed in the FMCG, auto, metal and pharma indices.

Continuing their gaining streak for the seventh session in a row, the benchmark indices ended nearly a per cent higher on Friday after the monetary policy committee (MPC) of the RBI left the repo rate unchanged at 4 per cent but announced a slew of liquidity measures to support the economy.

Further, RBI Governor Shaktikanta Das said the stance of the policy would remain “accommodative,” for “as long as necessary – at least during the current financial year and into the next year – to revive growth.
The S&P BSE Sensex today ended 327 points, or 0.81 per cent higher at 40,509 levels while the Nifty50 index settled above the 11,900-mark at 11,914, up 80 points, or 0.67 per cent. On a weekly basis, Sensex rallied 4.6 per cent and Nifty gained 4.3 per cent.

ICICI Bank and Axis Bank (both up 3.64 per cent) were the top Sensex gainers, followed by SBI, and HDFC Bank (both up 3.5 per cent).
The Nifty sectoral indices were mixed. While Nifty Bank gained nearly 3 per cent to 23,847 levels, Nifty Pharma ended as the biggest loser – down over 1.3 per cent.
In the broader market, the S&P BSE MidCap index slipped 0.42 per cent while the S&P BSE SmallCap ended 0.29 per cent lower at 14,966 levels.

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