Indian shares ended higher on Friday led by gains in financials after the Reserve Bank of India (RBI) kept interest rates unchanged at 4 percent in the face of high inflation, while also retaining its accommodative stance.
The Sensex ended 327 points higher at 40,509 while the Nifty rose 79 points to settle at 11,914. For the week, the indices ended over 4 percent higher.
Post the policy, the banking and financial indices surged on liquidity boosting measures. The Nifty Bank surged 2.8 percent while the Nifty Fin Services jumped 1.8 percent.
On the banking index, PNB, Bank of Baroda, ICICI Bank, Axis Bank, SBI, and HDFC Bank rose above 3.5 percent each.
Here are the key stocks that moved the most
Lakshmi Vilas Bank:
The stock ended nearly 10 percent higher to Rs 20.70 per share on the NSE after the lender announced that it had received an indicative non-binding offer from the Clix Group.
Housing Finance Companies: The share price of housing finance companies surged up to 10 percent after RBI eased the risk weights on housing loans. LIC Housing Finance's shares closed 7 percent higher to Rs 306.90 while GIC Housing Finance and CanFin Homes surged 4 percent and 5 percent respectively.
Steel Strips Wheels: The stock closed 6 percent higher to Rs 517.60 on the NSE after the company's net profit surged 82.3 percent to Rs 14 crore against Rs 7.7 crore YoY. Revenue was up 11.8 percent YoY to Rs 405 crore as compared to Rs 362.1 crore.
Solar Industries: The stock ended over 2 percent higher to Rs 1,160 after the company bagged an order worth Rs 447 crore from Singareni Colleries for the supply of explosives.
GOCL Corporation: The share price closed 3.5 percent higher to Rs 196 on the NSE after its wholly-owned subsidiary IDL Explosives won an order to supply explosives and accessories worth Rs 186.8 crore from Singareni Colleries.
Solara Active Pharma: The shares ended over 4 percent lower to Rs 1,152 after Ascent India Fund III sold 3,41,848 shares in the company at Rs 1,212.64 per share on the NSE.
(Edited by : Jomy)