Nifty hovers above 23,450 as RBI maintains repo rate unchanged

The domestic equity indices remained in positive territory during morning trade after RBI Governor Sanjay Malhotra announced the Monetary Policy Committee's decision to keep the repo rate unchanged and maintain its neutral policy stance. The Nifty hovered above the 23,450 level, while media shares advanced for a second straight session.

At 10:30 IST, the barometer index, the S&P BSE Sensex, rose 234.70 points or 0.32% to 74,594.71. The Nifty 50 index added 53.10 points or 0.23% to 23,468.55.

In the broader market, the BSE 150 MidCap Index jumped 0.54% and the BSE 250 SmallCap Index surged 0.45%.

The market breadth was strong. On the BSE, 2,368 shares rose and 1,287 shares fell. A total of 198 shares were unchanged.

Buzzing Index:

The Nifty Media index surged 2.73% to 1,491.55. The index jumped 4.97% in the two consecutive trading sessions.

Network 18 Media & Investments (up 8.30%), Zee Entertainment Enterprises (up 5.40%), Hathway Cable & Datacom (up 4.26%), Tips Music (up 4.26%), Saregama India (up 2.78%), PVR Inox (up 1.87%), Prime Focus (up 1.42%), Sun TV Network (up 1.26%), Nazara Technologies (up 0.17%) and D B Corp (up 0.14%) advanced.

Stocks in Spotlight :

Lupin added 1.39% after the company announced that the United States Food and Drug Administration (USFDA) has approved its ranibizumab, Ranluspec (ranibizumab-hkdz) injection.

Aurobindo Pharma rose 1.12% after the company announced that it has received final approval from the US Food and Drug Administration (USFDA) to manufacture and market Tofacitinib Tablets in 5 mg and 10 mg strengths.

ACME Solar Holdings added 1.21% after the company announced the successful completion of its Rs 2,800 crore Qualified Institutions Placement (QIP).

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