Share Market Closing Bell: Even after the RBI hiked the repo rate by 0.50 percent today in Indian stock market A surge was observed. After the announcement of monetary policy by RBI, there was a big rally in banking stocks. Bombay Stock Market Index Sensex (Sensex) closed 1016.96 points higher at 57,426.92 points. Meanwhile, the national stock market index Nifty closed at 17,094.30, up 276.20 points.
There were signs of volatility when the market opened this morning. There was also a possibility of sell-off in the Indian stock market due to a fall in the US and Asian stock markets and a possible hike in interest rates by the RBI. After the start of trading in the stock market today, there was a slight rise in the market after selling. Then he fell again.
As soon as the market opened this morning, the Sensex fell by 169 points to open at the level of 56,240.15. Nifty opened at 16,798.05 points. After that the Sensex recovered a bit for a while. After that the index fell again to 250 points.
After the announcement of monetary policy by RBI Governor Shaktikanta Das, the market witnessed a bullish trend. Banking share rates were up.
Fluctuations in the share price of this stock
Banks like Hindalco Industries, Bharti Airtel, IndusInd Bank, Bajaj Finance, Kotak Mahindra Bank etc. saw an increase in their share prices. Nifty shares rose. So, Shree Cements, Asian Paints, Britannia Industries, Coal India and Dr. Reddy’s Labs share price witnessed a fall.
Banking stocks rally
Banking stocks saw a rise after RBI’s monetary policy. Punjab National Bank share price increased by 4.87 percent, Federal Bank share price increased by 4.69 percent, Bank of India share price increased by 4.55 percent, IDFC First Bank share price increased by 4.50 percent.
The prices of mid-cap and small-cap stocks saw good growth. Buying was seen in the auto, IT, pharma, metal, energy sectors etc. in the market.
The market capitalization has increased to more than 272 lakh crores due to the boom in the market.
