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Nifty Settles At 11200 After RBI Maintains Status Quo; Infosys Top Gainer


Benchmark indices ended the session higher after RBI maintained status quo and kept key policy rate unchanged at 4%. Sensex settled higher by 0.96 percent or 362 points at 38025.45, and the Nifty was up 98.50 points or 0.89 percent at 11200.20. Broader markets also closed higher, with BSE Midcap and Smallcap indices surging 0.7 percent and 1 percent respectively.


Nifty Settles At 11200 After RBI Maintains Status Quo; Infosys Top Gainer

Infosys, Bajaj Finance, GAIL, HCL Tech and UPL were among major gainers on the Nifty, while losers were Shree Cements, Eicher Motors, Adani Ports, M&M and Bharti Airtel.

Realty and financials cheered RBI's one-time loan restructuring move and stocks from the space surged in the afternoon trade.

Gold financiers Manappuram Finance and Muthoot Finance shares gained up to 6% after the RBI relaxed guidelines on gold loan and enhanced gold LTV to 90% as against 75% currently. But towards the end, these stocks pared gains to trade lower.

Auto stocks however ended in the red led by losses in Escorts, Eicher Motors, Mahindra and Mahindra.

European stocks though traded with weakness on grim forecast of economic recovery which hit the London stock markets.

Meaanwhile, rupee ended at 74.92 versus the dollar after RBI maintained status quo.

Read more about: stock markets share market
Story first published: Thursday, August 6, 2020, 15:48 [IST]
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