Markets rally on RBI decisions: Sensex crosses 45,000 for first time, Nifty above 13,200
Sensex on Friday hit the 45,000-mark for the first time. The Nifty was trading over 13,200-mark as the Reserve Bank of India announced the monetary policy decisions. Among the top gainers on Sensex were UltraTech Cement, Bharti Airtel, and Mahindra & Mahidra.
Adani Power and Tata Power were the top gainers on BSE Midcap index.
The RBI on Friday decided to leave benchmark interest rate unchanged at 4 per cent but maintained an accommodative stance, implying more rate cuts in the future if need arises to support the economy hit by the COVID-19 pandemic. The reverse repo rate will also continue to earn 3.35 per cent for banks for their deposits kept with RBI.
“The benchmark repurchase (repo) rate has been left unchanged at 4 per cent,” Governor Shaktikanta Das said while announcing the decisions taken by the MPC.
