Sensex and Nifty Hit Record Highs as RBI Revises GDP Growth Forecast

The Sensex and Nifty indices surged over 2% to record high levels as the Reserve Bank of India revised its GDP growth forecast for 2024-25 to 7.2%. Key stocks such as IT and banking saw sharp gains. The RBI left interest rates unchanged, focusing on inflation amid robust economic growth.

PTI | Mumbai | Updated: 07-06-2024 17:21 IST | Created: 07-06-2024 17:21 IST
Sensex and Nifty Hit Record Highs as RBI Revises GDP Growth Forecast
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In an exhilarating turn of events, the benchmark equity indices Sensex and Nifty surged over 2% to new record highs following the Reserve Bank of India's decision to revise the GDP growth projection for 2024-25 to 7.2% from the previous 7%.

The 30-share BSE Sensex skyrocketed by 1,720.8 points, peaking at 76,795.31 during the day, eventually settling at a record high of 76,693.36. Parallelly, the NSE Nifty surged 498.8 points to 23,320.20 intraday, closing at an all-time high of 23,290.15.

IT and interest rate-sensitive sectors including banks, real estate, and auto stocks saw notable gains. The RBI maintained its key interest rate at 6.50% for the eighth policy meeting in a row, underscoring a focus on inflation management alongside strong economic growth, said Governor Shaktikanta Das.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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