Synopsis : Indian benchmark indices surged after the RBI MPC maintained the repo rate at 5.5%, lifting market sentiment. Auto and pharma stocks led the rally, while IT and metals faced mild selling pressure.
Stock Market LIVE Updates | October 1 : Benchmark indices Sensex and Nifty 50 bounced sharply on Wednesday after the Reserve Bank of India’s Monetary Policy Committee (MPC) decided to maintain the repo rate at 5.5%, as widely expected. The move offered relief to markets that had been under pressure for eight straight sessions.
At mid-day, the Sensex jumped over 400 points, while the Nifty 50 reclaimed the 24,700 mark, supported by strong gains in auto and pharma stocks. However, IT and metals saw mild selling pressure, capping further upside. If gains hold, markets may successfully end their eight-day losing streak.
On Tuesday, both indices had logged their eighth consecutive session of losses, dragged by consumer, realty, and IT stocks. Select support from auto, banking, and metals prevented deeper cuts, though overall sentiment remained subdued with Nifty trading in a 140-point range and Sensex in a 470-point band.
RBI MPC Key Highlights:
Repo rate unchanged at 5.5%
CPI inflation projection cut to 2.6% from 3.1% earlier
FY26 GDP growth forecast at 6.8%
IPO financing limit raised to ₹25 lakh per investor
RBI Governor: Monitoring rupee movements closely
Global Market Updates:
S&P 500 futures: -0.4% (as of 11:50 a.m. Tokyo time)
Japan’s Topix: -1.7%
Australia’s S&P/ASX 200: -0.3%
Euro Stoxx 50 futures: flat
Overall, the RBI’s dovish tone on inflation and growth has boosted investor confidence, with Indian equities staging a strong comeback after prolonged weakness.
Disclaimer : This article is for informational purposes only and should not be considered financial or investment advice. Readers are advised to consult professional financial experts before making any investment decisions.
