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News Topical, Digital Desk : Share Market News: The Indian stock market finally broke its eight-day decline. On October 1, the 30-share BSE Sensex index gained 715.69 points, or 0.89 percent, to close at 80,983.31. The Nifty 50 index gained 225.20 points, or 0.92 percent, to close in the green at 24,836.
Following the Reserve Bank of India's Monetary Policy Committee's decision, the market saw a rally. Although the index fluctuated before the RBI's decision, it subsequently rebounded. Investors expressed confidence in the Indian stock market, leading to a positive trend.
Top gainers of BSE Sensex
- Tata Motors
- Kotak Bank
- Trent
- Sunpharma
- axis Bank
Top losers of BSE Sensex
1. Bajaj Finance
2. SBIN
3. Tata Steel
4. Asian Paints
5. Maruti
What's driving the stock market surge?
The RBI kept the repo rate unchanged at 5.5 percent, prompting investors to buy bank shares, leading to a rally in the stock market. Furthermore, investors continued buying at lower levels despite the decline over the past eight trading days. This improved market conditions, and ultimately, it closed in the green.
The RBI Governor announced that the committee has decided to keep interest rates unchanged. There has been no reduction in the repo rate. This lack of a change has disappointed those who planned to borrow money to make purchases during the festive season.
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