Equity indices close higher after RBI keeps key rates unchanged

Video Credit: ANI
Published on October 9, 2020 - Duration: 01:15s

Equity indices close higher after RBI keeps key rates unchanged

Equity benchmark indices maintained an upward trajectory on Friday after the Reserve Bank of India's (RBI) kept repo rate unchanged and continued with accommodative stance.

Though the central bank sees FY21 GDP contracting by 9.5 per cent and may turn positive in Q4, several market experts said many measures have been introduced to maintain comfortable liquidity conditions.

The BSE SandP Sensex closed 327 points or 0.81 per cent higher at 40,509 while the Nifty 50 gained by 80 points or 0.67 per cent at 11,914.

Among stocks, State Bank of India rose by 3.6 per cent to Rs 198.55 per share.

Private lenders ICICI Bank, Axis Bank and HDFC Bank ticked up by 4 per cent, 3.7 per cent and 3.6 per cent respectively.

IT major Wipro was up by 4.4 per cent to Rs 375.25 per share while infrastructure conglomerate Larsen and Toubro advanced by 3.3 per cent to close at Rs 910.05 per unit.

However, those which lost were Grasim, Hindalco, Sun Pharma, Nestle India, Britannia and Tata Motors.

Meanwhile, Asian shares were mixed as revived hopes for a US stimulus deal eclipsed weaker-than expected jobs data.

Nikkei dipped by 0.12 per cent while Hong Kong's Hang Seng was down by 0.31 per cent.

But South Korea's Kospi rose by 0.21 per cent.

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