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News Topical, Digital Desk : The enthusiasm of the credit policy remained intact in the stock market on Monday as well and Sensex, Nifty closed higher in the second session as well. On Monday, buying was seen in midcap, smallcap stocks while Nifty Bank closed at a record high. On Monday, the Sensex closed at 82,445, up 256 points, while the Nifty closed at 25,103, up 100 points.
Nifty Bank closed 261 points higher at 56,840. All other sectoral indices except realty closed in the green. Nifty IT, Nifty Media and Nifty PSU Bank registered gains, while the broader market also rose.
Where was the impact of RBI's decisions seen? Bank Nifty continued its upward trend in trading on Monday, June 9, and touched the 57000 level for the first time, as the Reserve Bank of India's 50 basis point cut in repo rate and reduction in CRR boosted banking stocks. In the banking index, Kotak Mahindra Bank, AU Small Finance Bank and IDFC First Bank saw the highest gains, rising by 2.5 to 3 percent. Apart from this, the rise in the shares of gold finance companies continued after the Reserve Bank of India issued the final guidelines for gold loans. Due to this, shares of gold loan NBFCs like Manappuram Finance, Muthoot Finance and IIFL Finance saw a rise of up to eight percent. Which stocks saw action Bajaj Finance, Kotak Mahindra Bank, Axis Bank, Jio Financial, Trent were among the gainers on Nifty while ICICI Bank, Titan Company, M&M, Adani Ports, Eternal saw a decline.
Read More: Stock of the day: Why did the shares of IEX and MCX rise so fast?
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