Nifty posts longest gain in 3 years on RBI's pause

The Nifty and Sensex scaled fresh record highs, driven by FPI buying, as the Reserve Bank of India's (RBI's) rate setting committee kept the repo rate unchanged raised the economic but growth forecast by 50 basis points to 7% from FY24.

- Ram Sahgal

However, analysts remain divided on the near-term market prospects, with the US Federal Reserve meeting next week being the only immediate trigger.

The Nifty logged the longest winning streak in three years this Friday, hitting a fresh record of 21,006.10 while the Sensex surged to an all-time high of 69,893.80, falling shy of the 70,000 mark by just 106 points as foreign portfolio investors (FPIs) net purchased shares worth a provisional ₹3,632.30 crore.

Domestic institutional investors (DIIS), however, sold shares worth ₹434.02 crore. Among sectoral indices, Bank Nifty hit a fresh high of 47,303.65.