Asian stock markets were seen trading with gains following Wall Street gains. In overnight trade, US stocks rose over 1 per cent. Image: Reuters
Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic equity market benchmarks BSE Sensex and Nifty 50 are likely to extend Budget driven rally into the fifth session on Friday, as suggested by trends in SGX Nifty in early trade. Nifty futures were trading 63 points or 0.42 per cent up at 14,958.50 on Singaporean Exchange. In the previous session, BSE Sensex, Nifty 50, Nifty future, Midcap index and Smallcap index hit their respective 52-week highs. The Reserve Bank of India’s three-day monetary policy headed by RBI Governor Shaktikanta Das, that began on Feb 3, will share the outcome of the meet on February 5. Besides, Stove Kraft shares will make their share market debut on Friday. Asian stock markets were seen trading with gains following Wall Street gains. In overnight trade, US stocks rose over 1 per cent. The Dow Jones Industrial Average rose 1.08%, the S&P 500 gained 1.09%, and the Nasdaq Composite added 1.23%.
The Reserve Bank’s rate-setting Monetary Policy Committee (MPC) is likely to hold interest rates and continue with accommodative policy stance so that necessary monetary action could be taken to push growth. This is the first MPC meeting after the presentation of the Union Budget 2021-22. The MPC kept the key benchmark rate unchanged in its last three reviews. The current repo rate — rate at which RBI lends to banks — is at a record low of 4 per cent. The reverse repo rate — rate for funds parked by banks with RBI — is 3.35 per cent.
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