Benchmark equity indices Sensex and Nifty climbed over 2 per cent to settle at record closing high levels on Friday after the Reserve Bank of India (RBI) revised upwards the GDP growth projection to 7.2 per cent for 2024-25 from 7 per cent earlier.
The 30-share BSE Sensex jumped 1,720.8 points, or 2.29 per cent, to hit a new record peak of 76,795.31 in day trade. The benchmark ended at 76,693.36, up 1,618.85 points, or 2.16 per cent.
The NSE Nifty climbed 498.8 points, or 2.18 per cent, to 23,320.20 during the day and is just 18.5 points from hitting its record high level. It settled with a jump of 468.75 points, or 2.05 per cent, at 23,290.15. IT and interest rate-sensitive bank, realty, and auto stocks ended with sharp gains.
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.