Dalal Street Corner: Stock markets rise nearly 1% as RBI leaves interest rates unchanged – what investors should do on Friday


Indian markets rose nearly 1% following Reserve Bank of India (RBI) Governor Shaktikanta Das’ February monetary policy announcements. The six-member Monetary Policy Committee (MPC) on Thursday left the repo and reverse repo rates unchanged.

After opening almost flat today, the benchmarks regained momentum after the announcements began. The BSE Sensex rose 460 points to end at 58,926 and Nifty50 rose 142 points to 17,606. Meanwhile, Nifty Bank gained 401 points to the 39,011 level and the Nifty midcap index rose by 86 points at level 30,343. No less than 37 shares gained and 13 shares fell on Nifty50. ONGC, Tata Steel, Infosys, SBI Life, HDFC Bank, Grasim, M&M are the main winners today.

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With the exception of the Nifty Auto Index, all other sector indices closed in the green. Nifty Bank, Financials, IT, Metal and Realty each gained more than 1% apiece.

Aurobindo Pharma was among the top midcap winners based on management feedback; JSPL, GNFC, FirstSource, Vodafone Idea, LIC Housing and Laurus Lab are the top midcap winners. Housing finance companies rise as Reserve Bank of India keeps rates unchanged.

Adani Wilmar won for the third day in a row, closed to the upper circuit and Solara active closed to the lower circuit after a weak set of earnings for the third quarter of fiscal 2021-22.

We’ve rounded up the views of different experts on what investors should do when trading resumes:

Expert: Vijay Dhanotiya, Category Manager – HNI Products at CapitalVia Global Research Limited.

The market has seen strong trends and an attempt to hold the support level around the Nifty 50 index level of 17600. suggests that holding above this level is important for the market. to ramp up and extend the rally up to 18000.

Expert: S Ranganathan, head of research at LKP Securities.

“After a quiet start ahead of US inflation data and state elections across the country, indices rallied smartly after the RBI’s dovish stance that maintained the status quo on rates. volatility index cooled, metals led the rally well supported by real estate and mortgages Supported by a weaker inflation forecast going forward, the rally spilled over to tech information and finance in the afternoon exchanges ”

Expert: Vinod Nair, Head of Research at Geojit Financial Services

“The domestic market maintained its bullish momentum, helped by strong global signals and positive policy from the RBI. Although the market expected the RBI to moderate its policy tone, the central bank surprised with a super statement. accommodative by maintaining its accommodative stance, modest inflation forecast and GDP growth of 7.8% in FY23. The global market rallied ahead of the release of US inflation data. States, supported by strong earnings results”

Expert: Narendra Solanki, Head of Equity Research (Fundamental), Anand Rathi Shares & Stock Brokers

Indian markets opened on a mixed note after Asian market peers as investors await US inflation data and RBI policy announcement. During the afternoon session, the markets further increased their gains after the RBI policy announcement and continue to trade firmly due to buying at the frontline counters.

Sentiments on the street were upbeat after the RBI’s monetary policy committee decided to keep key interest rates unchanged.

Expert: Rupak De, Senior Technical Analyst at LKP Securities

On the daily chart, a small green candle with a significant lower wick is visible. At the high end, Nifty recovered around 80% of the previous drop and stopped short of any further movement. Going forward, the index may remain negative as long as the index holds below 17635. On the lower end, support is visible at 17330.


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