Sensex pares gains as RBI disappoints
Mumbai : After the reform-led rally, the market expressed disappointment over RBI’s stance on key rates with the benchmark Sensex closing just 78 points higher. The S&P CNX Nifty also managed to end ...
RSS · July 21, 2026 at 6:22 PM
KUALA LUMPUR, 22 JULY 2026 —
Headline: Sensex pares gains as RBI disappoints Lead: Mumbai : After the reform-led rally, the market expressed disappointment over RBI’s stance on key rates with the benchmark Sensex closing just 78 points higher. The S&P CNX Nifty also managed to end ... Body: Mumbai : After the reform-led rally, the market expressed disappointment over RBI’s stance on key rates with the benchmark Sensex closing just 78 points higher. The S&P CNX Nifty also managed to end above 5,600 mark with 32-point gain amid profit taking.
Market Impact
The market failed to sustain the initial build up as investors indulged in profit-taking in a knee-jerk reaction to the RBI’s decision to keep key rates unchanged in its mid- quarter monetary policy review.
The 30-scrip sensitive index (Sensex) touched day’s high of 18,715.03 but trimmed some of the 250-point gain to end at 18,542.31 points, 78.04 points or 0.42 percent higher.
The government unveiled big-bang economic reforms in retail and aviation last week to revive the economy apart from the diesel hike and cap on LPG cylinders.
The Nifty hit a high of 5,652.50 and a low of 5,585.15 before concluding at 5,610, a rise of 32.35 points, or 0.58 %, over the last close.
In the 30-share Sensex, 18 stocks gained led by Reliance Industries, State Bank of India, L&T, BHEL, Hero MotoCorp, ICICI Bank and Jindal Steel. With Sensex rising for the ninth day in row, this is the index’s longest winning streak since October 2007.
On the global front, Asian markets surged to four- month high on stimulus measures. European stocks were lower on renewed concerns over debt crisis in Spain and Greece.
Reliance Industries (RIL) regained its status as the country’s most valued firm with a market capitalisation of Rs 2.82 lakh crore as its shares rose nearly 4 %, dethroning IT major TCS whose scrips declined over 5%. RIL rose 3.89 % to Rs 873.65. In a tale of contrasting fortunes, Tata Consultancy Services’ market value stood at Rs 2,62,443 crore as its shares slipped by 5.03 % to Rs 1,340.90 on the BSE. RIL also crossed its buyback threshold limit of Rs 870 apiece for the first time since the repurchase offer began in February.
Kingfisher Airlines scrip touched its circuit limit of Rs.12.97 or an increase of 19.98 % and closed at the same level from a previous close of Rs.10.81. SpiceJet also closed at Rs.38.60, an increase of 11.88 % before touching a high of Rs.41.30 from its previous close of Rs.34.50 Friday. Among retail stocks, Pantaloon Retail gained 19 %.
Financials, oil & gas, auto, infra and metal counters attracted good buying interest, while FMCG, technology and pharma space witnessed massive unwinding.
ITC lost 5.48 % to close at Rs.253.40, while TCS ended 5.03 % down at Rs.1,340.90. Infosys also fell 2.67 % to close at Rs.2,562.60.
Tracking stock market movements, the rupee surged to 53.66 a dollar on robust capital inflows but pared some gains to close at 54.01 — still 29 paise higher — amid Reserve Bank infusing Rs 17,000 crore into system by way of a cut in Cash Reserve Ratio.
The rupee started appreciating against the dollar last week after QE3 announcement and FDI reforms introduced by India. The dollar index was trading up against a basket of six major currencies. Source: RSS Published: 2019-06-01T13:02:00.000Z Region: Asia Topic: Economy (AI-assisted rewrite, based on the original source)