Stock market good recovery, Sensex rose by 535 points!
In the stock market today, indian benchmark indices BSE Sensex and Nifty 50 were seen trading strongly. The bombay Stock Exchange benchmark Sensex registered a gain of more than 1,100 points, while the Nifty 50 crossed the 23,100 level. On Tuesday, the BSE Sensex closed at 75,901.41 with a gain of 535 points or 0.71 percent, while the Nifty 50 closed at 22,957.25 with a gain of 128 points or 0.56 percent.
indian stock market opened on the green mark
Benchmark equity indices Sensex and Nifty 50 opened with gains on Tuesday. During this, banking and financial stocks performed well. This is because the bank OF INDIA' target='_blank' title='reserve bank of india-Latest Updates, Photos, Videos are a click away, CLICK NOW'>reserve bank of india made several important announcements to increase liquidity (cash) in the banking system. Due to this, speculations have started about a possible cut in interest rates in February.
RBI made a big announcement
The bank OF INDIA' target='_blank' title='reserve bank of india-Latest Updates, Photos, Videos are a click away, CLICK NOW'>reserve bank of india (RBI) implemented several measures to increase liquidity (cash) in the banking system, including conducting open market operations (OMO) purchase auctions for government securities for a total of Rs 60,000 crore in three installments on january 30, february 13 and february 20, 2025. Apart from this, a 56-day variable rate repo (VRR) auction will also be conducted on february 7 for a notified amount of Rs 50,000 crore. Along with this, the Reserve bank has also announced a USD/INR buy/sell swap auction of US$ 5 billion for a period of six months on january 31, 2025.
A big decision can be taken in the MPC meeting
Dr. VK Vijaykumar, Chief Investment Strategist, Geojit Financial Services, while talking to the Times of India, said, the stock market is currently oversold. However, it is likely to rise. The measures suggested by the RBI to increase cash by about Rs 1.5 trillion in the banking system are positive for the market. This has increased the possibility of a cut in the repo rate in the Monetary Policy Committee (MPC) meeting to be held in February. Banks are likely to benefit from this.
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