Mumbai (Maharashtra): Market indices on Wednesday ended significantly higher owing to favourable outcome from the Reserve Bank of India (RBI) monetary policy.
BSE’s Sensex ended 275.67 points higher at 35,178.88, while Nifty traded at 10,684.65.
While Airtel, Tata Motors, and Titan were top gainers, HDFC Bank, Asian Paints and Tech Mahindra incurred losses due to trade under pressure.
Earlier, the Reserve Bank announced a hike in the repo rate and reverse repo rate at 6.25 percent and 6 percent respectively.
Maintaining a neutral stance, the central bank’s six-member Monetary Policy Committee (MPC) in its statement reiterated its commitment to achieving the medium-term target for headline inflation of 4 percent on a durable basis.
“GDP growth is projected in the range of 7.5-7.6 percent in H1 and 7.3-7.4 percent in H2, with risks evenly balanced,” the statement read. (ANI)