FINAL TRADE: Sensex gains 364 pts; Nifty settles at 19,653.5 post-RBI policy decision

Stock market today: The Indian share market closed in positive territory on Friday, October 6, after the Reserve Bank of India (RBI) kept the repo rate unchanged, which helped rate-sensitive stocks edge higher. Broad-based buying was seen on the sectoral front.

At close, both indices closed 0.55 per cent higher: the S&P BSE Sensex was up 364.06 points at 65,995.63 and the NSE Nifty was up 107.75 points at 19,653.5.

Among the Nifty 50 stocks, 39 advanced, with Bajaj Finserv, Bajaj Finance, Titan, IndusInd Bank, and Tata Consumer Products being the top winners, and 10 declined, with HUL, Coal India, ONGC Asian Paints, and Bharati Airtel being the top losers.

The Nifty Bank was up 0.33 per cent at 44,360.6.

In the broader market, both the Nifty Mid Cap 100 and the Small Cap 100 ended over half a per cent high.

"In order to meet its medium-term inflation objective of 4 per cent, the RBI maintained the status quo and left the repo rate at 6.5 per cent. RBI may engage in OMO sales as a means of managing liquidity. The cap on gold loans issued by urban cooperative banks has been increased by the RBI from 2 lakhs to 4 lakhs. These factors increased market optimism," said Vaibhav Vidwani, Research Analyst, BONANZA PORTFOLIO LTD.

TECHNICAL VIEW 

"We expect this pullback to continue until 19,778–19,800, where resistance in the form of the 50% Fibonacci retracement level and the 20-day moving average is placed. In the case of a dip towards 19,530–19,580, it should be used as a buying opportunity," said Jatin Gedia, Technical Research Analyst at Sharekhan by BNP Paribas.

Further, Gedia expects the Bank Nifty to provide a pullback to 44,800–45,000 from a short-term perspective. In the case of a dip, it should be used as a buying opportunity.

BUZZING STOCKS 

Godrej Industries shares closed nearly 20 per cent higher. 

Kalyan Jewellers ended over 10 per cent higher after its Q2 consolidated revenue growth was up 27 per cent.

Bajaj Finance stock closed over 4 per cent higher after the board approved raising Rs 10,000 crore.

InterGlobe Aviation shares edged higher by over 2 per cent after a fuel surcharge was implemented for domestic and international flights.

Conversely, Utkarsh Small Finance Bank shares were down over 1 per cent after the company released its Q2 business update.

Som Distilleries & Breweries shares were down over 3 per cent after the company launched its QIP.

Suzlon Energy shares fell over 1 per cent after the company was shifted to Additional Surveillance Measure (ASM) Stage IV.

Edelweiss Financial Services shares were also down over 5 per cent at the close after it was shortlisted in short-term ASM. 

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