Reuters
Published: 04 Jun 2021 12:35 PM BdST
Updated: 04 Jun 2021 12:35 PM BdST A Reserve Bank of India (RBI) logo is seen at the gate of its office in New Delhi, India, Nov 9, 2018. REUTERS
The Reserve Bank of India (RBI) kept interest rates at record lows on Friday and announced additional bond purchases to support the economic recovery, at risk of being derailed by a devastating second wave of COVID-19 infections. );
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The RBI held the repo rate, its key lending rate, at 4% and kept the reverse repo rate, the borrowing rate, unchanged at 3.35% as predicted in a Reuters poll.
RBI Governor Shaktikanta Das said all six members of the MPC voted in favour of keeping rates on hold and maintaining an accommodative monetary policy stance.
Bajaj Finance gained 0.39% to Rs 5,924.70, extending its winning run to fifth consecutive trading session.Shares of Bajaj Finance have rallied 5.63% in five trading days from its previous closing low of Rs 5,609.55 on 28 May 2021. The counter hit a record high of Rs 5,958.40 in intraday today. The stock has soared 169% from its 52-week low of Rs 2199 hit on 12 June 2020.
On the technical front, the stock s RSI (relative strength index) stood at 68.343. The RSI oscillates between zero and 100. Traditionally the RSI is considered overbought when above 70 and oversold when below 30.
The stock is trading above its 50 and 100 days simple moving average placed at 5285.90 and 5285.85 respectively. These levels will act as crucial support zones in near term.
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