Sensex sees marginal gains to scale new peak

PRESS TRUST OF INDIA 
Mumbai, 5 April

Equity benchmark index Sensex registered marginal gains to hit a fresh lifetime high of 74,248 on Friday after the Reserve Bank maintained the status quo on key interest rates amid a negative trend in global markets. 

The six-member rate-setting panel of the Reserve Bank of India (RBI) on Friday kept the benchmark interest rates unchanged at 6.5 per cent for the seventh time in a row. It also expressed concerns over food inflation, given India Meteorological Department’s prediction of above-normal maximum temperatures during April-June. The 30-share BSE Sensex inched up 20.59 points or 0.03 per cent to settle at a fresh record 0f 74,248.22. 

The index oscillated between the intraday peak of 74,361.11 and the low 0f 73,946.92. The broader NSE Nifty ended with a marginal loss of 0.95 points at 22,513.70. As many as 28 components of the 50-share benchmark ended in the red. 

“Although the RBI policy meeting unfolded as anticipated, concerns over food inflation and warnings of a heat wave tampered sentiment. While the main domestic indices concluded with marginal movement, the Bank Nifty edged higher, propelled by robust credit growth in Q4 FY24,” Vinod Nair, Head of Research, Geojit Financial Services, said. Kotak Bank was the largest gainer in the Sensex pack, followed by Bajaj Finserve, HDEFC Bank, ITC, SBI, M&M, and ICICI Bank.