Stock market today: Benchmark equity indices surged to record closing on Friday, June 7 amid broad-based buying after the Reserve Bank of India revised upwards the GDP growth projection to 7.2 per cent for 2024-25 from 7 per cent earlier. Amid broad-based buying, the 30-share BSE Sensex jumped 1,618.85 points or 2.16 per cent to close at ra ecord 76,693.36 after scaling an all-time high of 76,795.31. The NSE Nifty rallied 468.75 points or 2.05 per cent to settle at a record 23,290.15.

COMMERCIAL BREAK
SCROLL TO CONTINUE READING

Among the Nifty companies, 48 were advancing while two were declining. Mahindra & Mahindra, Wipro, Tech Mahindra, Infosys, and Tata Steel were the top gainers in the Nifty 50 universe while SBI Life, and Tata Consumer Products. 

The domestically focussed Nifty SmallCap100 was up 2.31 per cent, while Nifty MidCap100 settled 1.49 per cent higher.

The high-beta Nifty Bank index, whose 12 constituents include SBI, HDFC Bank, and ICICI Bank finished 1.04 per cent or 511.3 points higher at 49,803.2.

Announcing the second bi-monthly monetary policy for the current financial year, RBI Governor Shaktikanta Das said the Monetary Policy Committee (MPC) has decided to keep the repo rate unchanged at 6.5 per cent.

The Reserve Bank revised upwards the GDP growth projection for the current fiscal to 7.2 per cent from 7 per cent on rising private consumption and revival of demand in rural areas. Read more on RBI Monetary Policy June 2024

Global Market 

European shares edged lower on Friday, a day after the European Central Bank eased borrowing costs as was widely expected. Last seen, the continent-wide STOXX 600 was down 0.2 per cent.

(With PTI inputs)

For all other news related to business, politics, tech and auto, visit Zeebiz.com.