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Markets saw a day of surge

Markets rose sharply on the expectation that Rupee's depreciation against the dollar may slow down after the interest rate hike today.

September 30, 2022 3:31 IST | India Infoline News Service
Markets ended the day in green today. Nifty 50 ended, up by 288.30 points. Sensex ended, up by 1060.85 points. Top gainers today were Hindalco, Airtel and IndusInd bank. Top Losers today were Adani Enterprises, Dr Reddy's and Cipla. Markets jumped after the 50 basis point interest rate hike announced by the RBI. All the sectoral indicies ended in green. The highest gain was seen in Nifty Bank Index, of 984.20 points. 36 stocks touched their 52 week high today. 40 stocks touched their 52 week low. 

Markets had started the day cautiously and in red today. But after the interest rate hike announcement they rose sharply. One reason for this increase is the expectation that Rupee's depreciation against the US dollar will slow down because of the increase in interest rate today. This may slowdown or reverse the trend of outflows by foreign portfolio investors. This trend has re-emerged in the past few days. 

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