Sensex Plunges to 34005 Points After Banking Stocks Nosedive
Mumbai, Feb 8: The Indian markets opened in the green for the second day today driven by the gains of HDFC and ICICI. The 30-share BSE Sensex was trading 319 points higher at 34,405 while the 50-share NSE Nifty was 92 points up at 10,569. The Nifty midcap also rose 0.77 per cent during morning trade.
At 11:18 am: Key equity indices continued to rise further. The BSE Sensex was 420 points up at 34,503 while NSE Nifty was 117 points up at 10,593.
On Wednesday, the Indian markets closed in red after the Reserve Bank of India (RBI) announced to keep the key lending rates unchanged. While the Sensex fell 113 points when the closing bell was sounded, the Nifty closed below 10,500 mark.
The key interest rate was kept unchanged at 6 per cent for the fourth time in succession at the RBI’s final bi-monthly monetary policy review of the fiscal, citing concerns about the inflationary push by rising global crude oil prices.