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On Tuesday, Nifty Bank soared over 900 points. This happened after the Reserve Bank of India (RBI) announced a ₹1.5 lakh crore liquidity boost on Monday evening. The RBI’s measures included Open Market Operations (OMO) purchase auctions and a 56-day Variable Rate Repo (VRR) auction. Notable banks like HDFC Bank, ICICI Bank, Axis Bank, and IndusInd Bank contributed to this surge.
The market responded positively to the RBI’s steps aimed at injecting more liquidity. Investors are now hoping for a possible rate cut in the upcoming RBI policy meeting. The liquidity injection is expected to help banks and support credit growth, fostering a stable economic environment.
Overall, the RBI’s decision invigorated the banking sector, leading to bullish trends and increased investor confidence. This move aims to stabilize the market and promote economic growth amid ongoing financial challenges.
