new Delhi. The domestic stock market reacted enthusiastically to the RBI decision on Friday. The Sensex crossed the psychological level of 45,000 for the first time and the Nifty also touched a record high. The Reserve Bank of India (RBI) has announced the continuation of the key interest rate ie repo rate at four per cent. At the same time, RBI’s view of the country’s economic development is also positive. Due to which the stock market is seeing good boom today.
Also read: RBI estimates, know how much retail inflation can remain in the country
Sensex crosses 45 thousand for the first time
Today the stock market crossed 45 thousand for the first time. The Sensex reached a record 45033.19 points during the trading session. While the Sensex is trading at 44,925.09 with a gain of 292.44 points at 11.50 pm. On the other hand, the major index of the National Stock Exchange moved to a record level of 13,250.30 points during the Nifty trading session. While the Nifty was trading at 13,211.90 points at 11.50 am.
Also read: RBI gave indications of better economy, when will it be positive
GDP will be positive
According to projected data released by RBI Governor Shaktikanta Das, the country’s GDP may come on the positive note in the third and fourth quarters. The RBI said that in the third quarter, the country’s GDP could be 0.1 per cent higher than the zero and in the fourth quarter it could be 0 to 0.7 per cent. It has been speculated by RBI. There is also scope for altering it.
Also read: RBI MPC did not change policy rates, know how will the rates of home, auto and personal loans
Retail inflation figures
Shaktikanta Das, Governor of the Reserve Bank of India, said on Friday that retail inflation in the country is expected to be 6.8 per cent in the third quarter of the current financial year 2020-21, but is expected to come down to 5.8 per cent in the fourth quarter. The RBI estimates that retail inflation could range between 5.2 per cent and 4.6 per cent in the first half of the next financial year.
Also read: Stock market picks up before RBI MPC announcements, Sensex crosses 44700
No change in repo rates
Earlier on Friday, the RBI announced the continuation of the key interest rate ie repo rate at 4 per cent. RBI has not made any change in the repo rate for the third consecutive time. There is also no change in reverse repo rate. Following the decision taken at the meeting of the Central Six-member Monetary Policy Committee (MPC), RBI Gunwar Shaktikanta Das announced to keep the repo rate at four per cent.
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