Sensex surges 1,400 points post RBI policy decision: These stocks rose the most
Benchmark equity indexes rose over 1.8% and market capitalisation of all listed companies on BSE surged by ₹5.54 lakh crore to ₹421.43 lakh crore.
Sensex rose over 1,400 points while Nifty 50 advanced over 300 points as banking, finance, auto, and real estate soared by 8% following Reserve Bank of India (RBI's) decision to keep the repo rate unchanged. Benchmark equity indexes rose over 1.8% and market capitalisation of all listed companies on BSE surged by ₹5.54 lakh crore to ₹421.43 lakh crore.
Wipro stock rose 5%, Infosys 3%, Tech Mahindra, TCS, and HCL Tech rising between 2-3% each. Other top gainers were Bajaj Finance, Ultratech Cement, and Tata Steel while Reliance was the top contributor to today's rally.
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Moreover, shares of realty indices surged by up to 8%. Sunteck Realty and Siba rose by 8%. Brigade, Lodha, and Mahindra Lifespace advanced by 2-5%.
RBI decided to maintain the repo rate at 6.5%, continuing the stance of 'withdrawal of accommodation' amid concerns over food inflation and global uncertainties. The Monetary Policy Committee (MPC) projected the real GDP growth for FY25 to be 7.2%, up from 7%. RBI Governor Shaktikanta Das said, “Inflation growth balance is moving favorably. Growth is holding firm. Inflation continues to moderate mainly driven by the core component which reached its lowest level in the current series in April 2024. The deflation in fuel prices is ongoing, food inflation, however, remains elevated.”
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The RBI maintained the Standing Deposit Facility (SDF) rate at 6.25%, and the Marginal Standing Facility (MSF) rate and bank rate at 6.75%.
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Rohit Garg, co- founder& CEO, Olyv (formerly SmartCoin), said, “India's economic fundamentals are robust, with FY24 witnessing GDP growth of 8.2%, while inflation remains within the RBI's target range. The policy tone reflects confidence in domestic dynamics while acknowledging global uncertainties.”
