Sensex, Nifty Gain After RBI Keeps Repo Rate Unchanged: Midday Market Update
As of 12:09 p.m., the Sensex rose 238 points, or 0.36%, to 65,869.07, while the Nifty 50 gained 76 points, or 0.39%, to 19,621.55.
India's benchmark stock indices rose through midday on Friday after the monetary policy committee kept the RBI's key policy rates unchanged.
Realty and information technology sectors advanced, while oil and gas stocks were under pressure.
As of 12:09 p.m., the S&P BSE Sensex rose 238 points, or 0.36%, to 65,869.07, while the NSE Nifty 50 gained 76 points, or 0.39%, to 19,621.55.
European equity futures and Asian shares rose before a monthly US payrolls report. Contracts for the Euro Stoxx 50 rose around 0.2%. The US equity futures were little changed.
Japanese equities reversed gains, while equity benchmarks in Australia, South Korea, and Hong Kong all climbed. Mainland China markets remain shut for a weeklong holiday.
On Thursday, the S&P 500 fell 0.1%, while the tech-heavy Nasdaq 100 slipped 0.4%, though both were well off their lows for the day.
ITC Ltd., Infosys Ltd., Bajaj Finance Ltd., Bajaj Finserv Ltd. and HDFC Bank Ltd. were positively contributing to the change in the Nifty.
Hindustan Unilever Ltd., Bharti Airtel Ltd., ICICI Bank Ltd., Larsen & Toubro Ltd. and Oil & Natural Gas Corp. were weighing on the index.
The broader market indices were trading higher, with the BSE Midcap rising 0.36% and the BSE Smallcap gaining 0.33% through midday on Friday.
Seventeen out of the 20 sectors compiled by BSE Ltd. advanced, while three declined. Realty and information technology gained the most.
The market breadth was skewed in favour of the buyers. About 2,142 stocks rose, 1,319 declined, and 158 remained unchanged on the BSE.
