Share Market swings after MPC's decision; Sensex rises 771 points, Nifty rises 228 points

The stock market has seen significant action following the decision of the Reserve Bank of India's Monetary Policy Committee. Following the decision to keep interest rates at 6.5%, the Sensex increased by 771.98 (1.02%) points to 75,846.49. On the other hand, the Nifty rose 228.90 (1.00%) points to 23,050.30.

On Friday, the stock market began trading with volatility ahead of the Monetary Policy Committee meeting. In early trading, the Sensex fell by 100 points to below 75,000. On the other hand, the Nifty reached 22,800. However, the major benchmark indexes were able to recover their losses, and the market returned to an uptrend.

At 9:40 am, the Sensex was seen trading 386.02 (0.51%) points higher at 75,460.53. On the other hand, the Nifty strengthened by 121.55 (0.53%) points to reach the level of 22,942.95. In early trade, the rupee rose by 7 paise to reach the level of Rs 83.46 against the dollar.

The Nifty Bank index was seen trading in the green at 11:10 am after the MPC decision. ICICI Bank (1.03 percent), Federal Bank (1.37 percent), ICICI Bank (1.03 percent), Axis Bank (0.82 percent), and Punjab National Bank (0.77 percent) were the top gainers.

The 50-share Nifty of the National Stock Exchange (NSE) was also trading at 23,078.8 with a gain of 257.4 points at around the same time and the Sensex was trading at 7,5979.0 with a gain of 904.49 points.

On the Nifty 50 index, 44 stocks were trading in the green, while 6 stocks were trading in the red. Shares of Vodafone Idea, Yes Bank, RattanIndia Power, IRB Infra, and NHPC were among the most traded stocks on the NSE. Shares of Zenith Exports, Cords Cable Ind, HPL Electric Power, Aditya Birla Mani, and Avanti Feeds reached their new 52-week highs in today's trade. Compuage Infocom, Nuon Towers, Ambika Agarbatti, Future Supply Chain, and Kirti Knowledge hit their 52-week lows.