BENGALURU: Indian shares were steady on Friday after the Reserve Bank of India continued to maintain key interest rates prices as expected.
The NSE Nifty 50 index rose 0.32% to 19,608.50, as of 10:22 AM IST, and the S&P BSE Sensex rose 0.29% to 65,821.50.
The RBIThe interest rate setting committee kept the key interest rate stable at 6.50%. The central bank also maintained its policy stance of “withdrawal of easing” to bring inflation within its target range.
The RBI governor maintained the fiscal 2024 inflation projection at 5.4% but warned that the inflation trajectory will be determined by global food and energy prices as well as El-Nino conditions.
All thirteen major sector indexes advanced, with interest rate-sensitive stocks such as real estate, autos and financials adding between 0.35% and 1%.
The more domestically focused midcaps and smallcaps rose by 0.4% and 0.7% respectively.
The NSE Nifty 50 index rose 0.32% to 19,608.50, as of 10:22 AM IST, and the S&P BSE Sensex rose 0.29% to 65,821.50.
The RBIThe interest rate setting committee kept the key interest rate stable at 6.50%. The central bank also maintained its policy stance of “withdrawal of easing” to bring inflation within its target range.
The RBI governor maintained the fiscal 2024 inflation projection at 5.4% but warned that the inflation trajectory will be determined by global food and energy prices as well as El-Nino conditions.
All thirteen major sector indexes advanced, with interest rate-sensitive stocks such as real estate, autos and financials adding between 0.35% and 1%.
The more domestically focused midcaps and smallcaps rose by 0.4% and 0.7% respectively.
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