Mumbai, Oct 8 (FN Agency) The equity market on Friday posted a huge gain of 381.23 pts breaching 60K level to close at a high of 60,059.06 as RBI kept it’s key rates unchanged in the its monetary policy on Friday. The RBI’s seemingly dovish policy, keeping repo and reverse repo rates unchanged at 4 per cent and 3.35 per cent, respectively, boosted the investors sentiment. The Apex Bank retained the GDP growth forecast at 9.5 per cent for the on-going fiscal year and revised CPI inflation projection downward to 5.3 per cent for the whole fiscal (from 5.7 per cent) which further gave a boost to the market. The Nifty of National Stock Exchange (NSE) too rose by 104.85 pts at 17,895.20. The RBI’s decision of to maintain the status quo was expected.
The Sensex opened higher by 283 pts at 59,960.39. It spurted 535 pts at 60,212.30, days high before closing at 60,059.06 from its previous close. The Sensex registered days high and low at 60,212.30 and 59,830.93 pts respectively. The Nifty recorded days high and low at 17,941.85 and 17,840.35 pts respectively. The sectoral indices like IT, Technology and Consumer Durable gave philip to the equity market. In scrips, Reliance industries was a star gainer, up by 3.84 pc to Rs 2670.85 followed by Infosys by 1.91 pc to Rs 1723.55, Tech Mahindra by 1.53 pc to Rs 1438.95 and HCL Technology by 1.21 pc to Rs 1322.05. The selling scrips like NTPC, Hind Unilever, Maruti Suzuki and Titan capped from further gains, broker informed. The Mid Cap rose by 0.15 pc and Small Cap by 0.83 pc. Of 30 scrips, 15 advanced while 15 declined.