Frontline indices the Sensex and the Nifty 50 ended in positive territory on Friday, December 8, on gains led by banking stocks, including HDFC Bank and ICICI Bank, after the Reserve Bank of India kept the repo rate unchanged but raised the GDP growth forecast for the financial year 2024.
The Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) kept the repo rate unchanged at 6.5 per cent and maintained the policy stance of ‘withdrawal of accommodation’ on Friday.
Besides, the RBI raised its real GDP growth projection for FY24 to 7 per cent from 6.5 per cent earlier. However, the central bank kept the inflation forecast unchanged as it projected Consumer Price Index (CPI)-based inflation, or retail inflation, at 5.4 per cent for FY24.
Nifty 50 closed at 20,972.15, up 71 points, or 0.34 per cent while the Sensex closed the day at 69,825.60, up 304 points, or 0.44 per cent.
(More to come)
Milestone Alert!Livemint tops charts as the fastest growing news website in the world 🌏 Click here to know more.
Download The Mint News App to get Daily Market Updates.
Published: 08 Dec 2023, 03:30 PM IST