Market ends lower as RBI keeps rates unchanged

The market ended lower for the second consecutive session on Wednesday amid volatility after the Reserve Bank of India (RBI) kept key interest rates unchanged and maintained a ‘neutral’ stance.

At close, the Sensex fell 166.26 points, or 0.21%, to 80,543.99, while the Nifty declined 75.35 points, or 0.31%, to 24,574.20. The BSE Midcap and Smallcap indices also dropped 1% each.

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On the Nifty, around 13 stocks closed higher, with Asian Paints up 1.94%, HDFC Life gaining 1.88%, and M&M rising 0.9%, making them the top gainers.

Some of the notable losers included Wipro (down 2.5%), Aun Pharma (down 2.37%), Jio Financial (down 2.06%), and Tech Mahindra (down 2.05%).

Among the sectors, Nifty Bank and Nifty Financial Services ended flat in reaction to the RBI MPC announcement.

Nifty Auto and Nifty Realty declined 0.53% and 1.5%, respectively, while Nifty IT and Nifty Pharma lost 1.7% and 2%, respectively. Nifty FMCG and Nifty Metal shed around 0.9% and 0.4%, respectively.

Nearly 117 stocks hit 52-week highs, while 131 stocks touched 52-week lows.

Those hitting highs included Authum Investment & Infrastructure Ltd, Delhivery Ltd, Godfrey Phillips India Ltd, Nuvoco Vistas Corporation Ltd, Sarda Energy & Minerals Ltd, Schneider Electric Infrastructure Ltd, TVS Motor Company Ltd, and Vishal Mega Mart Ltd.

In contrast, on lows were Five-Star Business Finance Ltd, Easy Trip Planners Ltd, Gokaldas Exports Ltd, PDS Ltd, Quess Corp Ltd, and SpiceJet Ltd.

Reacting to Trump’s announcement of rising tariffs on imported medicines, pharmaceutical giants like Sun Pharma, Cipla, Dr Reddy’s Laboratories, and Lupin, among others, saw steep declines of up to 2%.

Furthermore, shares of major defence players rose after the Defence Acquisition Council (DAC) cleared a series of capital acquisition proposals worth approximately Rs 67,000 crore.