The Reserve Bank of India (RBI) at its first policy outcome for the financial year 2021-22 struck a dovish tone, much along expected lines, as the monetary policy committee unanimously voted to keep the key repo rate unchanged at 4 per cent and vowed to hold accommodative stance. But what really became the centerpiece of the policy outcome was the announcement of the secondary market G-sec acquisition programme which the bond market needed the most. The move was well-received by the money market as the yield on the 10-year government bond fell by nearly 6 basis points to 6.078%. While the central bank kept the growth projections unchanged at 10.5% for FY22, it flagged off Covid as a key risk to the outlook. Amid this backdrop, what should investors do now?
Sensex climbs 300 points on RBI policy outcome; Nifty jumps over 14,750
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On the other hand, Titan was the sole laggard. In the previous session, Sensex finished at 49,159.32, down 870.51 points or 1.74 per cent, and
Nifty sank 229.55 points or 1.54 per cent to 14,637.80.
Foreign institutional investors (FIIs) were net sellers in the capital market as they offloaded shares worth ₹931.66 crore on Monday, as per exchange data.
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According to V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, a significant fundamental factor from the market perspective is that the US and China are leading the global economic recovery. This is likely to translate into earnings growth particularly in emerging markets like India.
Updated:
The broader NSE Nifty advanced 99.80 points or 0.68 per cent to 14,737.60.
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On April 6, 2021, the 30-share BSE index pared its initial losses and rebounded 313.14 points or 0.64 per cent to 49,472.46.
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The broader NSE Nifty advanced 99.80 points or 0.68 per cent to 14,737.60. After starting on a weak note, equity benchmark Sensex rebounded over 300 points in early trade on Tuesday, tracking gains in index heavyweights HDFC twins, Infosys and ICICI Bank. The 30-share BSE index pared its initial losses and rebounded 313.14 points or 0.64 per cent to 49,472.46, and the broader NSE Nifty advanced 99.80 points or 0.68 per cent to 14,737.60. PowerGrid was the top gainer in the Sensex pack, rising over 2 per cent, followed by M&M, NTPC, IndusInd Bank, Bajaj Finance, Sun Pharma, Dr Reddy’s, ICICI Bank, HDFC duo and Infosys.
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After starting on a weak note, equity benchmark Sensex rebounded over 300 points in early trade on Tuesday (April 6), tracking gains in index heavyweights HDFC twins, Infosys and ICICI Bank. The 30-share BSE index pared its initial losses and rebounded 313.14 points or 0.64 per cent to 49,472.46, and the broader NSE Nifty advanced 99.80 points or 0.68 per cent to 14,737.60.
PowerGrid was the top gainer in the Sensex pack, rising over 2 per cent, followed by M&M, NTPC, IndusInd Bank, Bajaj Finance, Sun Pharma, Dr Reddyâs, ICICI Bank, HDFC duo and Infosys. On the other hand, Titan was the sole laggard.
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