Indian shares ended around a percent higher on Wednesday after the Reserve Bank of India (RBI) held a repo rate, as widely expected, to support the economy against the backdrop of the second surge in COVID-19 cases.
The Reserve Bank of India (RBI) stuck to its accommodative monetary policy stance amid concerns that rising infections could derail the country’s nascent economic recovery.
The Sensex ended 460 points higher at 49,662 while the Nifty rose 135 points to settle at 14,819. The broader markets also rose in trade with the midcap and smallcap indices up 1.3 percent and 1.7 percent, respectively.
On the Nifty50 index, JSW Steel, Wipro, SBI Life, SBI and IndusInd Bank were the top gainers while Adani Ports, Tata Consumer, UPL, Titan and NTPC led the losses.
Here are the key stocks that moved today:
Barbeque Nation: Shares of Barbeque Nation Hospitality rebounded after making a weak market debut and were locked in the upper circuit of 20 percent at Rs 590.40 on the BSE in Wednesday's session. The stock of Barbeque Nation Hospitality, which owns and operates the popular chain of Barbeque Nation Restaurants, had opened at Rs 492, 1.6 percent lower against its issue price of Rs 500 per share on the BSE.
Rate Sensitive stocks: Rate sensitive stocks continued trading in the green as RBI's monetary policy committee (MPC) held the repo rate at 4 percent in the April policy and retained its 'accommodative' stance which could continue for as long as necessary to revive growth. Nifty Bank was up 1.5 percent, Nifty Auto rose 1.6 percent and Nifty Realty added 0.9 percent after the policy announcement.
Reliance Industries: RIL share price rose 1 percent after the company's subsidiary Reliance Jio signed an agreement with Bharti Airtel for acquiring the right to use spectrum in some parts of the country. Reliance Jio Infocomm has entered into a definitive agreement with Bharti Airtel for the acquisition of the right to use spectrum in the 800MHz band in Andhra Pradesh, Delhi and Mumbai circles through spectrum trading, RIL said in a BSE filing.
Rossari Biotech: Shares of Rossari Biotech advanced 3 percent, its highest level since listing on the bourses on July 23 last year. Thus far in the month of April, the specialty chemicals company's stock has soared 16 percent in the four trading days, after the company announced full commissioning of its Greenfield manufacturing facility at Dahej, Gujarat.
(Edited by : Pranati Deva)
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