Stock market reacts negatively to RBI policy decision, leading to substantial point drop.
Main Losers on Sensex
Asian Paints experiences 3% decline, accompanied by losses in Kotak Bank, ITC, Bharti Airtel, Axis Bank, ICICI Bank, and Nestle.
Enhanced Browsing Experience
Our website utilizes cookies or similar technologies to enrich your browsing experience and offer personalized recommendations. By continuing to use our platform, you agree to our Privacy Policy.
Reserve Bank’s Policy Decision
RBI maintains policy repo rate at 6.5%, instructs banks to maintain 10% incremental cash reserve ratio.
Snapshot of Market Performance
S&P BSE Sensex plunges by 308 points, closing at 65,688. Meanwhile, NSE Nifty50 touches a low of 19,495 and concludes with an 89-point loss at 19,543.
Winners and Losers
IndusInd Bank, JSW Steel, Titan, PowerGrid, M&M, and TechM emerge as gainers. However, Asian Paints, Kotak Bank, ITC, Bharti Airtel, Axis Bank, ICICI Bank, and Nestle experience significant losses. Zee Entertainment’s shares soar 20% on BSE after NCLT approves Zee-Sony India merger.
Broader Market Trends
BSE Midcap and Smallcap indices incur marginal losses up to 0.2%.
Sectoral Performance
Except for metal and power sectors, all other sectoral indices register declines. FMCG and PSU Bank sectors witness nearly 1% dip, while capital goods and healthcare sectors decrease by 0.5%.
The Hindustan Herald Is Your Source For The Latest In Business, Entertainment, Lifestyle, Breaking News, And Other News. Please Follow Us On Facebook, Instagram, Twitter, And LinkedIn To Receive Instantaneous Updates. Also Don’t Forget To Subscribe Our Telegram Channel @hindustanherald