Sensex, Nifty post gains after MPC retains rate
Financial Express Mumbai|October 07, 2023
AN UNCHANGED REPO rate by the Reserve Bank of India's Monetary Policy Committee bodes well for the Indian markets as they closed higher on Friday
SWASTIKA MUKHOPADHYAY
Sensex, Nifty post gains after MPC retains rate

S&P BSE Sensex gained about 360 points, or 0.55%, to end at 65,995.63, whereas NSE Nifty 50 added about 110 points, or 0.55%, to close at 19,653.50.

Among sectors, Nifty Realty jumped 3.08% amid hopes that the retained policy repo rate will likely boost home sales in the backdrop of the festive season. Nifty Financial Services rose about 1%.

The benchmarks, however, underperformed the BSE Midcap and Smallcap indices, which rose 0.66% and 0.56%, respectively. BSE Bankex rose 0.34% while Bank Nifty gained 0.33% The top Sensex gainers were Bajaj Finserv (5.86%), Bajaj Finance (4.05%), Titan Company (2.98%), while Hindustan Unilever (-0.93), Asian Paints (0.37%) and Bharti Airtel (0.29%) were the top laggards.

The Monetary Policy Committee, in its fourth bimonthly policy announcement on October 6, retained the policy repo rate at 6.5% alongside a withdrawal of accommodative stance.

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