Now Reading: Sensex, Nifty Open Firm After RBI Holds Repo Rate at 5.25%
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Sensex, Nifty Open Firm After RBI Holds Repo Rate at 5.25%
Indian equities opened marginally higher on Thursday after the Reserve Bank of India kept its repo rate at 5.25% and raised its FY27 growth forecast to 6.7%. The Sensex was up 194…
The Story in Brief
Indian equities opened marginally higher on Thursday after the Reserve Bank of India kept its repo rate at 5.25% and raised its FY27 growth forecast to 6.7%. The Sensex was up 194 points at 78,775, while the Nifty gained 18.75 points to 24,643.40 at 9.23am, The Hindu BusinessLine reports.
Titan, Reliance Industries and Jio Financial Services led early gains, while Power Grid and Trent fell. Global cues remained mixed, with Asian markets lower and US technology stocks under pressure. Foreign investors sold Rs 943 crore of equities on Wednesday, but domestic institutions bought Rs 2,883 crore. The Nifty’s near-term support is 24,500 to 24,450, with resistance at 24,700 to 24,750.
The Indian Opinion
The loudest narrative is that one RBI decision has made the market safe, while the opposing view treats weak global technology stocks as an immediate threat. Neither is sufficient. Earnings, foreign flows, oil prices and the rupee can quickly alter sentiment. The practical test is whether the Nifty holds 24,500 and then clears 24,750, rather than another round of confident forecasts.
Sources (2): businesstoday.in, thehindubusinessline.com
This story was synthesised by AI from the 2 sources linked above.
Updated: this story now draws on 2 sources.
