InvestorQ : Why were the stock market indices so excited after the RBI governor speech in the morning on 05 May?
swati Bakhda made post

Why were the stock market indices so excited after the RBI governor speech in the morning on 05 May?

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Sam Eswaran answered.
1 month ago
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On 05 May, the RBI governor announced a slew of measures to soften the impact of COVID resurgence, which has already taken a toll with joblessness at 7.97%. RBI announced COVID funding package of Rs.50,000 crore plus an extension of moratorium for loans to individuals and to businesses, with special focus on the MSME sector.

The entire COVID package will also get priority sector status and thus help banks meet their targets. Nifty and Sensex gave thumbs-up celebrated, led by the Pharma index rallying 4% and the Bankex rallying 1.6%. Sectors like banks, SFBs, MFI and pharma were major gainers.

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