Sensex hits all-time high as RBI raises GDP growth projection

Benchmark Sensex soared by more than 1,720 points or over 2 per cent to hit life-time intra-day record highs on Friday, 7 June, after the Reserve Bank of India (RBI) revised upwards the GDP growth projection to 7.2 per cent for 2024-25 from 7 per cent earlier.

The 30-share BSE Sensex jumped 1,720.8 points to hit a record peak of 76,795.31 in day trade. The NSE Nifty went up by 498.8 points to 23,320.20.

IT and interest rate-sensitive bank, realty and auto stocks were trading with gains.

In the past two days, the BSE benchmark surged 2,995.46 points or 4.15 per cent after Tuesday's massive rout.

The RBI on Friday decided to keep the policy rate unchanged for the eighth time in a row, saying it will maintain a tight vigil on inflation.

Announcing the second bi-monthly monetary policy for the current financial year, RBI governor Shaktikanta Das said the Monetary Policy Committee (MPC) has decided to keep the repo rate unchanged at 6.5 per cent.

The Reserve Bank revised upwards the GDP growth projection for the current fiscal to 7.2 per cent from 7 per cent on rising private consumption and revival of demand in rural areas.

All the 30 Sensex companies were trading in the positive territory, Mahindra & Mahindra, Wipro, Tech Mahindra, UltraTech Cement, Tata Steel and Infosys were among the biggest gainers.