Indian benchmarks end higher on Thursday, RBI retains key interest rate

Indian benchmarks end higher on Thursday, RBI retains key interest rate

Indian benchmarks end higher on Thursday, RBI retains key interest rate

The SGX Nifty is pointing that Nifty may open with gains of around 167 points at 10,297.

Equities were also buoyed by favourable global trends after the USA indicated it was open to negotiations in its trade dispute with China, easing fears of a full-blown trade war.

In other sectoral indices, Metal rose 4.14 per cent, realty 2.55 per cent, PSU 2.19 per cent, consumer durables 1.85 per cent, capital goods 1.83 per cent, infrastructure 1.82 per cent, IT 1.55 per cent, teck 1.44 per cent and oil & gas 1.26 per cent.

Mumbai: The equity markets staged a spectacular rally on Thursday led by bank stocks after the Reserve Bank of India revised downwards its inflation forecast for FY19 while maintaining a bullish outlook on growth.

Most of Asia was also down with Hong Kong's Hang Seng ending with losses of 2.19 per cent, the Shanghai Composite Index finishing 0.18 per cent lower and Singapore tumbling 2.12 per cent.

Also, investors reacted positively to RBI's decision to temporarily relax provisioning norms for lenders to defaulters undergoing bankruptcy resolution.

The 30-share index, moving in a tight range for the better part of the session on scattered deals, hit a low of 33,501.37 and a high of 33,697.51 before finishing at 33,626.97 points, up 30.17 points or 0.09 percent.

The market breadth was negative with 1,444 shares declining ed nd 1,190 shares rising on the BSE. The Reverse Repo rate now remains unchanged at 5.75%. In the February meeting, the bank's Monetary Policy Committee had voted for a pause in the monetary policy with the exception of RBI executive director Michael Patra who voted for a 25 basis points hike.

The apex bank projected CPI inflation for 2018-19 to stand at 4.7-5.1 percent in first half of 2018-19 and 4.4 percent in second half, including the HRA impact for central government employees, with risks tilted to the upside.

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