Stocks of Adani Group companies outperformed today as the benchmark equity indices Sensex and Nifty climbed over 2 per cent to settle at record closing high levels. The Reserve Bank of India (RBI) today revised upwards the gross domestic product (GDP) growth projection to 7.2 per cent for 2024-25 from 7 per cent earlier.
The shares of Adani Group company NDTV also climbed 4 per cent. The Sensex gained 1,618 points to end at 76,693 – a record high in intraday trade – while the Nifty gained 468 points to settle at 23,290.
All sectoral indices performed well. Experts said the markets are cheering as they see stability.
Mahindra and Mahindra, and Wipro stocks gained over 5 per cent.
The shares of Adani Group firms had already made a strong comeback on Wednesday, led by Adani Green Energy and Adani Ports, as the stock markets recovered from losses on Tuesday, the day votes were counted for the Lok Sabha election.
The RBI left its key interest rates unchanged on Friday as expected, keeping the focus on inflation amid robust economic growth that is likely to provide the new Modi government headroom for manoeuvring reforms.
The Monetary Policy Committee, comprising three RBI and an equal number of external members, kept the repo rate unchanged at 6.50 per cent for an eighth straight policy meeting and stuck to its relatively hawkish stance of “withdrawal of accommodation”, RBI Governor Shaktikanta Das said in a statement.
(Disclaimer: New Delhi Television is a subsidiary of AMG Media Networks Limited, an Adani Group Company.)
