Previous Day Market Sensex closed at 49,661.76 up by 460.37 points Nifty closed at 14,819.05 up by 135.55 points RBI held repo rates at 4% and also maintained the accommodative stance of monetary policy. While the RBI did warn about inflation risks, the full year inflation estimate for FY22 was cut from 5.2% to 5.0%.
On 02 March, the government completed its 2-day auction of telecom spectrum. As against the target of Rs.3.92 trillion via auction, the government ended up collecting just Rs.77,184 crore or less than 20% of the target. What was more disappointing was that the government focused on the low-hanging fruit only. No demand for premium bands