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In stock market: Nifty is very close to 20,000 points. Experts expect it to cross the 20,000 mark next week. If we talk about the reasons behind it, Bank Nifty appears to be the most important. The Reserve Bank of India (RBI) is to phase out the Incremental Cash Reserve Ratio (ICRR). Let us tell you that the Nifty closed at 19,819.95 on Friday.
Nifty at highest level since July 20
The National Stock Exchange (NSE) is currently at its highest level since July 20. Meanwhile, Bank Nifty closed up 0.6 percent at 45,156.40 points on Friday. The reason for the rise in Bank Nifty is the Reserve Bank’s decision on ICRP. The central bank has said that the ICRR will be settled before October 7. Let us tell you that there is no interest on 10 percent of ICRR.
Money doubles in 1 year, now share will be divided into 5 parts
At the same time, the Nifty future which is going to expire on November 30 has crossed the 20,000 mark. It closed at 20,088 on Friday. Let us tell you that banking shares need to be monitored this week.
ICRR was introduced by the Central Bank to accommodate the surplus liquidity of the system. Surplus liquidity was expected to increase after the withdrawal of 2000 notes. After which this decision has been taken. This decision is good from the point of view of banks. Let us tell you that Nifty has made a strong comeback amid global concerns. And he is now 172 points away from his all-time high.