Stock markets advance as RBI maintains status quo

Stock Markets: In morning trade, the major equity indices continued to trade with robust gains near the day's high. The Nifty was hovering around the crucial 17,400 level. The RBI's Monetary Policy Committee (MPC) kept the main interest rates steady, which pleased investors.

The S&P BSE Sensex rose 735.65 points, or 1.28 percent, to 58,369.30 during the morning session. To 17,393.05., the Nifty 50 index gained 216.35 points, or 1.26 percent. The S&P BSE Mid-Cap index rose by 0.97 percent, while the S&P BSE Small-Cap index increased by 1.27 percent. The market's breadth was impressive. On the Bombay Stock Exchange, 2334 shares rose and 651 sank. There were 131 shares that remained unchanged.

Following the completion of the Monetary Policy Committee (MPC) meeting today, the Reserve Bank of India (RBI) held the policy repo rate steady while maintaining its accommodative stance.

Shares in ICICI Bank, SBI Bandhan Bank, RBL Bank, AU Small Finance Bank HDFC Bank, IndusInd Bank, IDFC First Bank, Axis Bank, Punjab National Bank Federal Bank and Kotak Mahindra Bank are in green.

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