Markets end higher after RBI keeps key rates unchanged; Sensex zooms 460 pts; Nifty settles above 17,600; Banking stocks outperform

10 Feb 2022 , 03:32 PM

Equity benchmark indices continued to surge for the third straight day after the Reserve Bank of India (RBI) kept key rates unchanged to support economic growth. Tata Steel, Infosys, HDFC twins (HDFC and HDFC Bank), Kotak Mahindra Bank, M&M and Power Grid were the top gainers on the BSE today.

The RBI’s monetary policy committee (MPC) held the lending rate, or the repo rate, at 4 per cent and the reverse repo rate, or the key borrowing rate, at 3.35 per cent.

The BSE Sensex jumped 460.06 points or 0.79 per cent to settle at 58,926, while the broader NSE Nifty moved 142 points or 0.81 per cent higher to close at 17,606. Mid- and small-cap shares closed on a positive note as Nifty Midcap 100 index jumped 0.29 per cent and small-cap shares moved 0.47 per cent higher.

On the sectoral front, IT, metal, banking, finance, realty, oil & gas, utilities closed higher. Nifty Metal outperformed the index by rising as much as 1.24 per cent.

ONGC was the top Nifty gainer as the stock surged 3.63 per cent, followed by Tata Steel, Infosys, SBI Life and HDFC Bank were also among the gainers.

On the flip side, Maruti Suzuki India, Indian Oil Corp, Shree Cement, UltraTech Cements and Adani Ports were among the losers.

On the currency front, the rupee declined by 10 paise to close at 74.94 against the US dollar.