Sensex soars 276 points to close above 35,000-mark even as RBI hikes repo rate; Nifty up 91 points

Mumbai: The BSE Sensex surged almost 276 points to end above the key 35,000-mark on Wednesday even as the RBI hiked the policy rate by 0.25 percent on inflation concerns.

However, the RBI retained the GDP growth forecast for 2018-19 at 7.4 percent on hopes of further boost to investments and higher consumption.

The central bank hiked the benchmark lending rate for the first time in four-and-half-years on inflation concerns arising from a surge in international oil prices.

Representational image. Reuters.

Representational image. Reuters.

The repo rate now stands at 6.25 percent.

The BSE Sensex, which opened strong at 34,932.49, fell after RBI's policy announcement but soon recovered to touch the day's high of 35,230.54.

It finally ended at 35,178.88, up 275.67 points, or 0.79 percent.

The gauge had lost 419.17 points in the previous three sessions.

On similar lines, the NSE Nifty, after shuttling between 10,698.35 and 10,587.50, finished the session 91.50 points, or 0.86 percent higher at 10,684.65.

Meanwhile, domestic institutional investors (DIIs) bought shares worth a net Rs 474.33 crore, while foreign portfolio investors (FPIs) sold shares worth Rs 157.51 crore yesterday, as per provisional data.

Updated Date: Jun 06, 2018 16:16 PM

Also Watch

Social Media Star: Abhishek Bachchan, Varun Grover reveal how they handle selfies, trolls and broccoli
  • Monday, July 16, 2018 It's a Wrap: Soorma star Diljit Dosanjh and Hockey legend Sandeep Singh in conversation with Parul Sharma
  • Monday, July 16, 2018 Watch: Dalit man in Uttar Pradesh defies decades of prejudice by taking out baraat in Thakur-dominated Nizampur village
  • Monday, July 16, 2018 India's water crisis: After govt apathy, Odisha farmer carves out 3-km canal from hills to tackle scarcity in village
  • Sunday, July 15, 2018 Maurizio Sarri, named as new Chelsea manager, is owner Roman Abramovich's latest gamble in quest for 'perfect football'

Also See