Indian shares rose sharply on Wednesday after the Reserve Bank of India left its key interest rates unchanged, saying that the ongoing domestic recovery needs sustained policy support to make it more broad-based.
By a majority of 5 to 1, the MPC voted to retain the accommodative policy stance as long as necessary to revive and sustain growth on a durable basis and continue to mitigate the impact of Covid-19 on the economy, while ensuring that inflation remains within the target going forward.
Positive global cues also offered support. The S&P BSE Sensex surged 1,016.03 points, or 1.76 percent, to settle at 58,649.68 while the broader NSE Nifty 50 index rose 293.05 points, or 1.71 percent, to end at 17,469.75, with financials, metal and auto stocks leading the surge.
Market Analysis
Sensex Jumps 1,016 Points; Nifty Tops 17,450
2021-12-08 11:21:27
