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Sensex Today: Stock markets rose in early trade, Sensex crossed 60,600, Nifty also trended up

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Sensex Today: Stock markets rose in early trade, Sensex crossed 60,600, Nifty also trended up

Sensex Today: Amid a positive trend in global markets, domestic stock markets also rose during early trading on Thursday and Sensex crossed 60,600.

During this, the 30-share BSE Sensex rose 329.15 points to reach 60,676.12. Similarly, the broader NSE Nifty was trading 92.4 points higher at 18,096.15.

Maruti, ICICI Bank, NTPC, Larsen & Toubro, Kotak Mahindra Bank, and Mahindra & Mahindra were among the top gainers in the Sensex trades.

On the other hand, IndusInd Bank, Tech Mahindra, Infosys, and Tata Steel declined.

Among other Asian markets, markets in Tokyo, Hong Kong, and Seoul were trading with gains while those in Shanghai were trading with losses. The US markets also closed with gains on Wednesday.

In the previous session, the 30-share BSE Sensex closed down 224.11 points, or 0.37 percent, on Wednesday. The Nifty of the National Stock Exchange also closed at 18,003.75, down 66.30 points, or 0.37 percent.

Meanwhile, the international oil standard Brent crude slipped 0.09 percent to $ 94.02 per barrel. Foreign institutional investors (FIIs) sold shares worth a net Rs 1,397.51 crore on Thursday, according to provisional data from the stock market.

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SBI Raises benchmark prime lending rate, new rates effective from today

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SBI Raises benchmark prime lending rate, new rates effective from today

SBI Prime Lending Rate: The country’s largest lender State Bank of India (SBI) has increased the benchmark prime lending rate by 70 basis points. With the increase, as per the information posted on the SBI website, the revised rate is now 13.45%. The new rates have become effective from today i.e. 15th September.

SBI has posted on its website that the Benchmark Prime Lending Rate (BPLR) has been revised as 13.45 percent per annum with effect from September 15, 2022.

With this announcement, the repayment of BPLR-linked loans will become expensive. The current BPLR rate is 12.75 percent. It was last revised in June.

The bank has also increased the base rate by equal basis points to 8.7 percent, which is effective from today. The EMI amount of borrowers taking loans at the base rate will increase.

The bank revises both BPLR and Base Rate on a quarterly basis. Other banks are also likely to revise the lending rate by SBI in the coming days.

The hike in benchmark lending rates comes weeks ahead of the monetary policy meeting of the Reserve Bank of India (RBI), which is expected to hike rates again to contain inflation.

According to the schedule, the next three-day monetary policy meeting will be held from September 28 to September 30.

SBI shares rose close to 3% to a record high of Rs 574.7 per share on the NSE in Wednesday’s trade. Meanwhile, on BSE, the stock marked a new all-time high of Rs 574.65, despite selling pressure on Dalal Street.

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