Stock Market Highlights:
Indian equity benchmark indices opened on a positive note on Friday with the Nifty above 17,700. The Reserve Bank of India (RBI) kept the key repo rate unchanged at 4 percent, maintaining the status quo and maintaining its ‘accommodative stance’. The apex bank today raised inflation projections for FY23 to 5.7 per cent from 4.5 per cent, while downgrading real GDP estimates to 7.2 per cent vs 7.8 per cent earlier, given the persistent elevated prices of oil and other commodities. The broader markets were trading in green and rose higher than the frontline indices. The BSE MidCap and SmallCap indices rose up to 0.64 percent higher. All the sectoral indices ended in the green with FMCG, metal, power, oil & gas indices up 1-2 percent. BSE midcap and smallcap indices rose nearly 1 percent each.
First Published: IST