On April 5, higher volatility gripped the benchmark indices, Sensex and Nifty, following the Reserve Bank of India's (RBI) decision to leave the key repo rate unchanged at 6.5 percent.
Read more: RBI maintains Repo Rate at 6.50%: What it means for homebuyers and the real estate sector (newsarenaindia.com)
The central bank's cautious stance on inflation has led equity strategists to believe that rate cuts are not imminent, consequently expecting the markets to remain rangebound in the near term.
At the close, the Sensex edged up by 20.59 points, reaching 74,248.22, while the Nifty saw a marginal increase of 10.80 points, settling at 22,525.50.
Sectors and Stocks
The Nifty Realty index emerged as the top gainer, surging over a percent on the back of robust pre-sales momentum and the government's focus on infrastructure spending. The Bank Nifty also exhibited bullish behavior, gaining 0.9 percent. However, the Nifty Auto index witnessed subdued performance.
Sonam Srivastava, Founder and Fund Manager at Wright Research, said, "The banking sector could benefit from the RBI's focus on liquidity management, while sectors sensitive to interest rate changes such as real estate and infrastructure may also see some impact."
Besides the realty sector, private banking majors exhibited robust performance, with stocks like Kotak Mahindra Bank, IDFC First Bank, HDFC Bank, and IndusInd Bank gaining up to 2 percent.
Profit-booking was observed in technology counters, with the Nifty IT index slipping by 0.5 percent, weighed down by losses in Tech Mahindra, Persistent Systems, Coforge, and TCS.
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