Stock Market at Close: Sensex, Nifty End Flat

The Indian stock market ended flat on April 5, 2024 after the Reserve Bank of India (RBI) in its monetary policy committee (MPC) meet kept the key repo rate unchanged at 6.5 percent.

At close, the Sensex was up 20.59 points or 0.03 percent at 74,248.22. Nifty ended the session, down 1 point at 22,513.70.

Around 2134 stocks advanced and 1353 shares declined while 101 stocks remained unchanged.

Among sectors, Bank, FMCG and Realty were up 0.5-1.5 percent, while Information Technology and Media shed 0.4 percent each.

Top Nifty50 Gainers

Top Nifty50 Losers

RBI Keeps Repo Rate Unchanged at 6.5%

The Reserve Bank of India (RBI) in its monetary policy committee (MPC) meet on April 5 has kept the key repo rate unchanged at 6.5 percent. This is the seventh consecutive time the Central Bank has kept key interest rate unchanged. In its first meeting of FY 25, the rate-setting panel left the stance unchanged as withdrawal of accommodation. The decisions were takes with a 5:1 majority. The RBI Governor, Shaktikanta Das also announced that there will be no changes in the GDP growth forecast for FY25. The GDP growth estimate was retained at 7 percent for the current fiscal year.

Asian Markets

Japan’s Nikkei 225 led declines in Asia-Pacific markets on Friday as comments from US Federal Reserve officials fueled worries that the central bank could hold off on rate cuts and sent Wall Street lower overnight. Japan’s Nikkei 225 fell 1.96% to close at 38,992.08, the first time the index has slipped below 39,000 in about three weeks. The broad based Topix closed 1.08% lower at 2,702.62, according to a CNBC.com report.

European Markets

European stocks fell to a more than two-week low on Friday, tracking a global skittishness in sentiment following hawkish comments from some US Federal Reserve officials and a spike in tensions in the Middle East. The continent-wide STOXX 600 fell 1.2 percent, on track for its worst day since mid-October 2023, according to Reuters report.

Stocks in News

Globus Spirits

Share price of Globus Spirits jumped over 3 percent after the company announced a joint venture with ANSA McAL, a Trinidad and Tobago headquartered brand for beer production and distribution in India, focusing on the Carib beer brand. “We believe that the company will play a pivotal role in meeting consumer demand and driving growth in the Indian beverage sector,” the company said in a press release on April 5.

IREDA

The stock price of Indian Renewable Energy Development Agency Ltd (IREDA) surged over 11 percent on high volumes. The sharp rally occurred following the upward revision of the circuit filter for the company by BSE from 5 percent. The revised price band took effect on the same day. IREDA shares now possess a circuit filter of 20 percent, allowing them to rise or fall by a maximum of 20 percent during a trading session.

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