Indian Stock Market Ends Flat as RBI Keeps Rates Unchanged

Indian Stock Market Ends Flat/ANI

VoM News Desk | April 5, 2024 | 05:56 PM IST | Breaking News | Follow on Google News

Indian Stock Market Ends Flat as RBI Keeps Rates Unchanged

Indian Stock Market Ends Flat as RBI Keeps Rates Unchanged

The Sensex and the Nifty 50 closed flat on Friday, April 5, after the RBI maintained the repo rates at 6.5% for the seventh consecutive time, with a policy stance of ‘withdrawal of accommodation.’

RBI Policy Decisions and Market Sentiment

RBI Governor Shaktikanta Das expressed optimism about domestic economic growth but highlighted uncertainties in food prices. Lack of clarity on rate cuts, geopolitical tensions, and rising crude oil prices dampened market sentiment.

Market Performance and Sectoral Indices

While the Sensex inched up by 0.03%, the Nifty 50 remained unchanged. Banking stocks prevented a market crash, while mid and small caps outperformed. Sectoral indices like Nifty Realty, Nifty Bank, Private Bank, and Financial Services ended with decent gains.

Top Gainers and Losers in Nifty 50

Kotak Mahindra Bank, SBI Life, and HDFC Bank were among the top gainers, while Grasim, UltraTech Cement, and Larsen & Toubro ended as the top losers. Reliance Industries and Hero MotoCorp remained flat.

Expert Views and Technical Analysis

Vinod Nair of Geojit Financial Services noted concerns over food inflation and geopolitical tensions, while Rupak De from LKP Securities highlighted a sideways trend in the Nifty 50, with crucial resistance at 22,650 and support at 22,300.

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