Nifty hits 21K as RBI holds rates, ups FY24 GDP forecast
08/12/2023 11:00
The Nifty50 benchmark breached the 21,000 mark for the first time on Friday as the Reserve Bank of India (RBI) held the repo rate steady at 6.5 per cent and raised the FY24 GDP forecast to 7 per cent from 6.5 per cent.

At 10:45 hours, the 30-share benchmark index was trading at 69794.15 up by 272.46 points or by 0.39 % and then NSE Nifty was at 20991.85 up by 90.7 points or by 0.43 %.

Sensex touched intraday high of 69888.33 and intraday low of 69606.69 The NSE Nifty touched intraday high of 21006.1 and intraday low of 20932.55

The top gainers of the BSE Sensex pack were JSW Steel Ltd. (Rs. 848.60,+3.57%), HCL Technologies Ltd. (Rs. 1352.05,+1.87%), NTPC Ltd. (Rs. 289.25,+1.83%), Larsen & Toubro Ltd. (Rs. 3399.50,+1.15%), HDFC Bank Ltd. (Rs. 1649.05,+1.13%), among others.

The top losers of the BSE Sensex pack were Mahindra & Mahindra Ltd. (Rs. 1678.50,-0.90%), Bajaj Finance Ltd. (Rs. 7337.05,-0.77%), Bharti Airtel Ltd. (Rs. 994.45,-0.43%), Maruti Suzuki India Ltd. (Rs. 10657.90,-0.32%), Tata Consultancy Services Ltd. (Rs. 3606.80,-0.27%), among others.

Metal index was at 25025.23 up by 356.63 points or by 1.45%. JSW Steel Ltd. (Rs. 849.15,+3.64%), Coal India Ltd. (Rs. 358.30,+1.82%), Jindal Steel & Power Ltd. (Rs. 693.90,+1.48%), Hindalco Industries Ltd. (Rs. 523.10,+1.42%), NMDC Ltd. (Rs. 186.55,+1.36%),.

Power index was at 5729.13 down by -12.79 points or by -0.22%. Adani Green Energy Ltd. (Rs. 1552.80,-4.41%), Adani Energy Solutions Ltd. (Rs. 1150.55,-3.93%), Bharat Heavy Electricals Ltd. (Rs. 180.20,-1.64%), Adani Power Ltd. (Rs. 553.10,-1.59%), CG Power and Industrial Solutions Ltd. (Rs. 449.65,-1.41%),.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 3763 , shares advanced were 2276 while 1304 shares declined and 183 were unchanged.