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Markets rally on RBI decisions: Sensex crosses 45,000 for first time, Nifty above 13,200

Sensex on Friday hit the 45,000-mark for the first after. The Nifty was trading over 13,200-mark as the Reserve Bank of India announced the monetary policy decisions.

India TV News Desk India TV News Desk
Mumbai Updated on: December 04, 2020 11:25 IST
sensex 45000 mark
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Sensex hits 45,000-mark for the first time.

Sensex on Friday hit the 45,000-mark for the first time. The Nifty was trading over 13,200-mark as the Reserve Bank of India announced the monetary policy decisions. Among the top gainers on Sensex were UltraTech Cement, Bharti Airtel, and Mahindra & Mahidra.

Adani Power and Tata Power were the top gainers on BSE Midcap index. 

The RBI on Friday decided to leave benchmark interest rate unchanged at 4 per cent but maintained an accommodative stance, implying more rate cuts in the future if need arises to support the economy hit by the COVID-19 pandemic. The reverse repo rate will also continue to earn 3.35 per cent for banks for their deposits kept with RBI.

"The benchmark repurchase (repo) rate has been left unchanged at 4 per cent," Governor Shaktikanta Das said while announcing the decisions taken by the MPC.

READ MORE: RBI maintains status quo third time in a row, keeps Repo Rate unchanged at 4%

The RBI also revised its projection for real GDP growth at -7.5 per cent in financial year 2020-21, from -9.5 per cent.

The RBI had slashed the repo rate by 115 basis points since late March to support growth. RBI had last revised its policy rate on May 22, in an off-policy cycle to perk up demand by cutting interest rate to a historic low.

READ MORE: Conditions will improve for Indian corporates in 2021 as economic activity gathers pace: Moody's

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