Closing Update- The BSE Sensex closes higher by 174.33 points to 31,671.71, while the NSE Nifty rises 55.40 points, to close at 9,914.90.
The indices gained after the RB kept interest rates unchanged because of it anticipates upside risks to retail inflation. The central Bank has also slashed its growth projections for the current fiscal and raised its inflation projections.
The RBI kept its neutral policy standpoint but acknowledging slow-moving economic activity, lowered its fiscal 2018 projection for gross value added to 6.7% from 7.3%.
In the broader markets, BSE Mid-cap closed at 15,614 level, up by 59 points, while Small-cap index closed at 16,320 level, up by 127 points. Bank Nifty ended at 24,113 level, up by 0.04%.
Tata Motors DVR, Reliance Industries and Sun Pharma were the top gainers on both indices, while Bharti Airtel, ICICI Bank and Axis Bank lost the most.
Selling activity was visible in sectors including Telecom, IT, Metal and Consumer Durables. Nifty Pharma index was the top gaining index ending at 9,372.3 level, up by 1.71% while Nifty Metal index ended lower by 0.15% at 3,588.1 level.
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