Mumbai, April 5 (IANS) The Nifty recovered from intraday lower levels to close flat on Friday after the RBI kept the repo rate unchanged at 6.5 per cent for the seventh consecutive time, said Siddhartha Khemka, Head of Retail Research at Motilal Oswal Financial Services.
At close on Friday, the Nifty was down 1 point at 22,513.70, while the Sensex was up 20.59 points or 0.03 per cent at 74,248.22.
The majority of the sectors ended in green with buying being seen in realty, banking & financials, he said.
The RBI at its bimonthly meeting on Friday maintained a ‘withdrawal of accommodation’ stance in line with market expectations. The committee maintained the GDP rate at 7 per cent for FY25, while projecting retail inflation of 4.5 per cent.
Next week, the focus will shift to the Q4 earnings season as TCS will announce its results on April 12. Also, the markets will take cues from global events like India and US inflation data, US Fed meeting minutes, and ECB policy meetings.
On Monday, the markets would react to US non-farm payroll data and unemployment rate, Khemla said.
“Overall we expect the market to consolidate in a broader range with stock-specific action”, he added.
–IANS
san/arm
Disclaimer
The information contained in this website is for general information purposes only. The information is provided by TodayIndia.news and while we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.
Through this website you are able to link to other websites which are not under the control of TodayIndia.news We have no control over the nature, content and availability of those sites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.
Every effort is made to keep the website up and running smoothly. However, TodayIndia.news takes no responsibility for, and will not be liable for, the website being temporarily unavailable due to technical issues beyond our control.
For any legal details or query please visit original source link given with news or click on Go to Source.
Our translation service aims to offer the most accurate translation possible and we rarely experience any issues with news post. However, as the translation is carried out by third part tool there is a possibility for error to cause the occasional inaccuracy. We therefore require you to accept this disclaimer before confirming any translation news with us.
If you are not willing to accept this disclaimer then we recommend reading news post in its original language.
