Exchange shares in action: BSE hits 52-week high after RBI's policy announcement; IEX, MCX too gain

Shares of major exchanges were on roll on Wednesday after the Reserve Bank of India (RBI) came out with its policy announcements today. The surge in these exchange-related stocks came after the RBI on Wednesday decided to keep the status quo same on repo rate and reverse repo rate and maintained accommodative stance in the backdrop of concerns over the emergence of the new coronavirus variant Omicron.

Shares of BSE Limited breached 21,000-mark for the first time ever as it touched 52-week high value of Rs 2109 on the National Stock Exchange in Wednesday's intraday trade.  

BSE stocks, which surged from 52-week low of Rs 535.50 on March 21, 2021, was trading at Rs 2,063.10 per share, a gain of Rs 118.05 or 6.07%, on the NSE.  

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Besides, the rally was also seen in the Multi Commodity Exchange (MCX) which witnessed spurt in volumes by more 3.69 times. MCX shares touched day's high of Rs 1755 per share on BSE and was trading with 5 per cent gain or Rs 80 gain at Rs 1704 apiece.  

Indian Energy Exchange Limited shares were also trading with 3 per cent gain at Rs 262.50 after touching day's high of Rs 264.65 per share on the BSE.

Meanwhile, this is the ninth time in a row that the Monetary Policy Committee (MPC) headed by RBI Governor Shaktikanta Das has maintained the status quo. RBI had last revised its policy repo rate or the short-term lending rate on May 22, 2020 in an off-policy cycle to perk up demand by cutting the interest rate to a historic low.  

MPC has decided to keep benchmark repurchase (repo) rate at 4 per cent, Das said while announcing the bi-monthly monetary policy review. Consequently, the reverse repo rate will continue to earn 3.35 per cent for banks for their deposits kept with RBI.