Indian equity benchmarks
continued to trade in green on continued buying in funds and retail investors
as traders cheered the Reserve bank of India’s (RBI) policy announcement. RBI
has raised the repo rate by 50 basis points to 5.90% in a bid to
check inflation, which has remained above its tolerance level for the past 8
months. Buying in utilities, power, and telecom stocks helped markets to trade
higher.

The Sensex was trading at
57,106.88, up by 696.92 points or 1.24% after trading in a range of 56,147.23
and 57,116.83. On the index, 22 stocks were advancing and 7 stocks declining.

Also Read | How inflation affects RBI’s interest rate policy

The broader indices were
trading in green with the BSE Mid cap index up by 0.54% and the Small cap index
up by 0.75%. The top gaining sectoral indices on the BSE were Utilities up by
2.41%, Power up by 2.37%, Telecom up by 2.18%, Bankex up by 2.16%, and Metal
was up by 1.79%, while IT down by 0.36%, FMCG down by 0.18% and TECK was down
by 0.06% were the few losing indices on BSE.

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The top gainers on the
Sensex were HDFC Bank up by 2.76%, Kotak Mahindra Bank up by 2.60%, HDFC up by
2.36%, Indusind Bank up by 2.26%, and Bajaj Finserv up by 2.25%. On the flip
side, Hindustan Unilever lost 1.16%, Asian Paints 1.00%, Dr. Reddy’s Lab 0.92%,
TCS 0.82%, and Tech Mahindra 0.67%.

The Nifty was trading at
17,019.65, up by 201.55 points or 1.20% after trading in a range of 16,747.70
and 17,025.65. On the index, 35 stocks were advancing against 15 stocks
declining.

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The top gainers on the Nifty
were Hindalco up by 3.73%, ONGC up by 2.88%, HDFC Bank up by 2.73%, Kotak
Mahindra Bank up by 2.63%, and HDFC up by 2.54%. Asian Paints down by 1.06%,
Dr. Reddy’s Lab down by 1.05%, Hindustan Unilever down by 1.03%, TCS down by
0.78% and Infosys down by 0.69% were the top losers.

Also Read | RBI monetary policy committee meet: An overview

Asian markets were trading
lower with the Nikkei 225 slipping 484.84 points or 1.83% to 25,937.21, Taiwan
Weighted dropping 109.68 points or 0.81% to 13,424.58, KOSPI fell 15.44 points
or 0.71% to 2,155.49, Straits Times trembled 12.17 points or 0.39% to 3,102.91.
Shanghai Composite declined 8.09 points or 0.27% to 3,033.11 and Jakarta
Composite was down by 20.49 points or 0.29% to 7,015.71.