Stock Market Highlights: Nifty Reclaims 25,000 After RBI Repo Rate Cut, Sensex Surges
The benchmark equity indices closed higher for third straight session on Friday, after the Reserve Bank of India Monetary Policy Committee slashed the key lending rate by 50 basis point to bring it to 5.5%.
The NSE Nifty 50 ended 252 points, or 1.02% higher at 25,003, while the BSE Sensex closed 746.95 points, or 0.92% up at 82,188.99. During the day, the Nifty rose 1.13% to trade at 25,092.50 and the Sensex advanced 1.05% to 82,299.89.
The market saw a positive trend this week, with Nifty gaining over 1%, driven by Eternal Ltd. and Shriram Finance Ltd. Sensex also rose nearly 1%, snapping a two-week losing streak.
Broader market indices outperformed the benchmark indices, with Nifty Midcap 150 and Smallcap 250 each gaining more than 2.5%. Cochin Shipyard emerged as a standout performer, surging over 20%, and along with FACT, topped the Nifty Midcap 150.
Astrazeneca Pharma and Brigade Enterprises led the gains in the Nifty Smallcap 250. Notably, Nifty Midcap 150 marked its second consecutive week of gains, while Nifty Smallcap 250 continued its upward trend for the fourth week. Nifty Realty was the top-performing sector, gaining more than 9% for the week.
"The Nifty opened on a flat note at 24,748 and dipped to an intraday low of 24,671. However, as the RBI Governor began his policy address, the index staged a recovery and touched a high of 25,029. The session remained volatile, with banking stocks taking center stage throughout the day," said Sundar Kewat, technical and derivatives analyst, Ashika Institutional Equity.
Shares of Shriram Finance Ltd., Bajaj Finance Ltd. and JSW Steel Ltd. were top gainers.
While those of HDFC Life Insurance Co., Bharat Electronics Ltd. and Bharti Airtel Ltd. were among the biggest laggards.
In terms of points contribution, HDFC Bank Ltd. and Bajaj Finance Ltd. were among stocks that led gains in the index.
Bharti Airtel Ltd. and Bharat Electronics Ltd. dragged the index the most.
On the NSE, 13 out of 15 sectors ended in the green, with the Nifty Realty, Metal and Finance among top performers.
In the broader market, the BSE MidCap and SmallCap rose but underperformed the Sensex, closing 0.90% and 0.43% up, respectively.
The market breadth was skewed in the favour of buyers, as 2,252 stocks advanced, 1,741 declined and 152 remained unchanged on the BSE.
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