Market rises after decisions made by RBI, Sensex crosses 38 thousand

Aug 07 2020 12:23 AM
Market rises after decisions made by RBI, Sensex crosses 38 thousand

Mumbai The results of the meeting of the Reserve Bank of India (RBI) Monetary Policy Committee (MPC) have been announced. In this meeting, no amendment has been made in the repo and reverse repo rate, while the limit of gold loan has been increased. That is, up to 90 percent gold loan can now be taken. These decisions of RBI have brought the stock market out.

Later in the afternoon, the Sensex saw an increase of 500 points, while the Nifty also recorded a strength of 150 points. Today the Sensex crossed the 38 thousand mark, while the Nifty was seen trading at the level of 11,250 points. During the trade on Thursday, Adani Gas shares have fallen by up to 3 percent. Adani Gas Limited reported that its net profit declined by 42 percent in the June 2020 quarter after sales were affected by the lockdown caused by the global pandemic Coronavirus.

The company said in a statement that its net profit in the first quarter of the current financial year was Rs 46 crore, compared to Rs 79 crore in the year-ago period. Earlier on Wednesday, the benchmark indices of the stock markets could not maintain the initial growth and almost closed at the previous day's level.

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