Taking Stock: Cool off from highs! Nifty holds 9250 as RBI announces lifeline to MF
Episode 2452, Apr 27, 2020, 11:39 AM
Indian market extended gains after the Reserve Bank of India (RBI) in an attempt to calm investors’ nerves announced a special liquidity facility of Rs 50,000 crore for mutual funds, similar to what we saw in 2008 amid Global Financial Crisis.
However, bulls failed to keep the momentum going, as we saw some cool off or profit-taking at higher levels above 9300 towards the close of the trade. The S&P BSE Sensex rose over 400 points while the Nifty50 ended just a shade below 9300 levels.
However, bulls failed to keep the momentum going, as we saw some cool off or profit-taking at higher levels above 9300 towards the close of the trade. The S&P BSE Sensex rose over 400 points while the Nifty50 ended just a shade below 9300 levels.