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.

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.