The domestic stock market has continued to boom since the budget day presented on 1 February 2021. Today, during the trading, the Sensex crossed 51 thousand for the first time and the Nifty reached 15 thousand for the first time. However, the Sensex-Nifty fell below the highest level after the RBI announced policy rates and day-long fluctuations. Finally, the Bombay Stock Exchange’s flagship index Sensex closed 117.34 points, or 0.23 per cent, at 50731.63. At the same time, the National Stock Exchange’s Nifty gained 28.60 points (0.19 per cent) to close at 14,924.25.
The Reserve Bank of India (RBI) has not made any change in the repo rate in the meeting of the Monetary Policy Committee. It remains at four per cent. The MPC has unanimously taken this decision. That is, customers have not got new relief on EMI or loan interest rates. Central Bank Governor Shaktikanta Das said the reverse repo rate has also been kept steady at 3.35 per cent. With this, it has been decided not to change the bank rate. It stands at 4.25 percent. The Marginal Standing Facility (MSF) rate is also at 4.25 per cent. The Reserve Bank has projected a 10.5 per cent increase in the country’s GDP in the next financial year 2021-22.
The country’s largest state-owned State Bank of India (SBI) has made it to the top 10 companies in terms of market capitalization. Its market capitalization was Rs 3.64 lakh crore this morning. With this, Airtel has now reached the 11th position. Today, State Bank of India (SBI) shares reached a 52-week high on the BSE. After opening at the level of 387, it closed at 395 with a gain of 11.24 per cent. Finally, SBI’s market capitalization stood at Rs 3.51 lakh crore. On Thursday, it closed at Rs 355.10 with an upper circuit of 10 per cent.
Economists and market analysts believe the budget presented on Monday is a bold and growth-oriented budget. The market has also considered the proposal of privatization of two state-run banks and monetization of assets like land. After this, the Sensex-Nifty saw a strong boom and reached the highest level. Talking about the big stocks, today the shares of SBI, Tata Steel, Divis Lab, Kotak Mahindra Bank and Dr. Reddy closed on the green mark. Bharti Airtel, Axis Bank, Tata Motors, UPL and Maruti shares closed at the red mark.
If we look at the sectoral index, today, apart from IT, private banks, auto and media, all sectors closed on the green mark. These include FMCG, Realty, Bank, PSU Bank, Pharma, Metal and Finance Services. The Sensex opened 212.90 points (0.42 per cent) higher at 50,827.19 in early trade today. At the same time, the Nifty opened at 14,955.15 with a gain of 59.50 points, or 0.40 per cent. On Thursday, it had closed at the level of 50614.29 with a gain of 358.54 points, or 0.71 per cent. The Nifty closed at 14,895.65 with a gain of 105.70 points (0.71 per cent).