Domestic equity markets hit fresh highs on Friday after the the Reserve Bank of India’s Monetary Policy Committee (MPC) maintained the accommodative stance for the rest of the fiscal year and revised the growth prospects.
After hitting an all-time high of 45,033.19 points, the S&P BSE Sensex was trading 283.95 points or 0.64 per cent higher at 44,916.60 at 12.15 p.m.
Sensex had opened at 44,665.91 and has touched an intra-day low of 44,665.91 points.
Similarly, the NSE Nifty was trading at 13,212.90 levels, up by 79.00 points or 0.60 per cent. It had earlier touched a fresh all-time high of 13,250.30 points.
In a video statement after the Monetary Policy Committee’s (MPC) meet, Das said that the economic recovery has been faster than anticipated and the real GDP growth for FY21 is projected at (-)7.5 per cent, against the previous estimate of (-)9.5 per cent.
He attributed to the upward revision in GDP growth numbers to the current rate of recovery and vaccine hopes for Covid-19.
The MPC, however, decided to keep the repo rate unchanged at 4 per cent in view of the elevated inflation rate.