From The Depths, Sensex Climbs To Record High After RBI Forecasts Growth

Mumbai: Erasing the downturn it witnessed on election counting day, Sensex hit an all-time high on Friday — soaring by over 1,720 points, more than 2 per cent.

This surge follows the Reserve Bank of India (RBI) revising GDP growth projection from 7 per cent to 7.2 per cent for 2024-25. RBI also maintained interest rates for the eighth consecutive time at 6.5 per cent.

The 30-share BSE Sensex went up to 1,720.8 points and hit a record peak of 76,795.31 in day trade while NSE Nifty went up by 498.8 points to 23,320.20.

The stock market nosedived on June 4 after the BJP and NDA received a reduced mandate than was predicted by the exit polls.

In the last two days, the BSE benchmark surged 2,995.46 points, that is, a staggering 4.15 per cent.

Stocks in sectors sensitive to interest rates, such as banking, finance, automotive and real estate, jumped by almost 8 per cent after the RBI announced it would keep the interest rate steady, India Today reported.