Mkts edge up to fresh highs

Mumbai: Equity benchmark index Sensex registered marginal gains to hit a fresh lifetime high of 74,248 on Friday after the Reserve Bank of India (RBI) maintained the status quo on key interest rates amid a negative trend in global markets. The six-member rate-setting panel of the Reserve Bank of India (RBI) on Friday kept the benchmark interest rates unchanged at 6.5 per cent for the seventh time in a row. It also expressed concerns over food inflation, given IMD’s prediction of above-normal maximum temperatures during April-June.

The 30-share BSE Sensex inched up 20.59 points or 0.03 per cent to settle at a fresh record of 74,248.22. The index oscillated between the intra-day peak of 74,361.11 and the low of 73,946.92. The broader NSE Nifty ended with a marginal loss of 0.95 points at 22,513.70. As many as 28 components of the 50-share benchmark ended in the red.

“Although the RBI policy meeting unfolded as anticipated, concerns over food inflation and warnings of a heat wave tampered sentiment. While the main domestic indices concluded with marginal movement, the Bank Nifty edged higher, propelled by robust credit growth in Q4 FY24.

The global sentiment was dampened by the rise in oil prices and tensions in the Middle East. Investors remain attentive to upcoming US non-farm payroll and unemployment data, seeking clarity on the Federal Reserve's future rate path,” said Vinod Nair, head (research), Geojit Financial Services.

While BSE Services rose by 0.79 per cent, BSE FMCG went up 0.51 per cent. In contrast, teck declined by 0.51 per cent, IT fell by 0.44 per cent and capital goods dipped by 0.22 per cent.