SENSEX, NIFTY50 end flat, Banking and Realty stock shine after RBI keeps policy rate unchanged

Benchmark indices ended flat today after the Reserve Bank of India kept the repo rate unchanged at 6.5%. NIFTY50 closed one point lower at 22,513, while SENSEX gained 0.03% or 20 points to 74,248.

Domestic market traded in a narrow range throughout the day and closed almost unchanged after RBI’s monetary policy outcome was on the expected line. NIFTY Bank edged higher for the third straight day, closing at 48,493 aided by robust credit growth in Q4FY24 by private and public banks.

On a weekly basis, NIFTY50 closed 0.84% higher, while SENSEX gained 0.81%. NIFTY Bank closed 2.9% higher this week, while NIFTY Midcap 100 rose 4%.

Out of the NIFTY50 space, 28 stocks closed in red. Kotak Bank (+1.9%), SBI Life (+1.5%), HDFC Bank (+1.4%) were among the top gainers, while Grasim (-1.9%), UltraTech Cement (-1.7%) and L&T (-1.4%) were top losers.

Broader market indices continue to outperform benchmark indices. NIFTY Midcap100 closed at a lifetime high of 50,022, while NIFTY Smallcap100 closed 0.84% higher.

On the sectoral front, NIFTY Realty (+1.43%), Bank (+0.90%) and Financial Services (+0.86%) were top gainers, while NIFTY IT (-0.50%), Media (-0.39%) and Auto (-0.24%) ended in red.

Realty stocks witnessed substantial gains today, with the NIFTY Realty index closing 1.43% higher after RBI kept its key policy rate unchanged for the seventh time in a row. As per experts RBI’s status quo would sustain the momentum in residential real estate sales. DLF closed 2.1% higher, while Godrej Properties gained 4.2%.

Marico Ltd shares closed 3.6% higher at ₹509 per share after the company said its domestic business posted a slight uptick in volume growth on a sequential basis during the March quarter.

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