RBI's decision breathed new life into the market, Sensex broke all records - Newztezz - Latest News Today, Breaking News, Top News Headlines, Latest Sports News


Friday, June 7, 2024

RBI's decision breathed new life into the market, Sensex broke all records

The stock market has once again come alive. After the monetary policy of the Reserve Bank of India was announced, the Sensex has broken all old records and created a new all-time high. It has closed with a gain of more than 1600 points in a day.

A new spring has returned to Dalal Street i.e. Bombay Stock Exchange. On Friday, the BSE Sensex broke all previous records and touched a new all-time high level. The Sensex closed at 76,793.36 points, registering a gain of more than 1,618.85 points in a single day. With this, the fall in the stock market on the day of election results i.e. 4 June has been completely recovered.

On Friday, on one hand, the formation of the new government in the country officially started. On the other hand, in the morning, the Reserve Bank of India (RBI) announced the bi-monthly monetary policy. This time also, no change has been made in the repo rate and the focus of RBI remains on reducing inflation in the country. Both these events maintained the bullish sentiment in the market since morning.

Improvement was also seen in Nifty 50

Not just the Sensex…National Stock Exchange (NSE) stock index Nifty 50 also registered a huge surge today. It closed at 23,290.15 points, up 468.75 points. During the day's trading, it touched a new high level of 23,320.20 points.

If we look at the high level of Sensex during trading, it reached almost 77,000 points. Its intra-day high level was 76,795.31 points. However, at the low level, it also went up to 74,941.88 points. Shares of all the 30 companies included in the Sensex closed in the green zone today.

Earnings of 7.38 lakh crores

Due to RBI's decision not to change the interest rates, some sectors have shown tremendous growth. Shares of banking, finance, auto and real estate sectors have seen a growth of up to 9.5 percent. RBI has maintained the repo rate at 6.5 percent in its June monetary policy.

The market capitalization of all the companies listed on the BSE Sensex has reached Rs 423.27 lakh crore. While the valuation has increased by Rs 7.38 lakh crore in a day. This rise in the stock market has been seen when Congress leader Rahul Gandhi on June 4 accused the country's 5 crore retail investors of being the biggest stock market scam that has caused a loss of Rs 30 lakh crore.

If we look at individual stocks, Wipro, Infosys, Tech Mahindra, TCS and HCL Tech stocks have seen tremendous growth. All these stocks have been top gainers and have climbed up to 5 percent.

Meanwhile, another important development has taken place in the country. After no party got a clear victory in the elections, the path for the formation of NDA government has now become clear. In the meeting of NDA's parliamentary party, Narendra Modi has been elected as its leader. He is going to take oath as the Prime Minister on 9th June.

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