Stock market ends five-day winning streak
At close, Sensex was down 609.28 points, or 0.82%, at 73,730.16. Meanwhile, Nifty opened higher at 22,620.40 and touched a low of 22,419.90 in intraday trades.
Tracking weak global markets and Reserve Bank of India’s move to keep key lending rates unchanged, Indian benchmark indices slipped from record highs and closed Thursday’s trading session with marginal declines.
In its bi-monthly monetary policy review, the Reserve Bank of India (RBI) on Thursday kept key repo rate or lending rate unchanged at 6.25 per cent but hiked reverse repo rate by 25 basis points (bps) to 6 per cent.
The Reserve Bank also narrowed policy rate corridor, due to liquidity flush, by increasing marginal standing facility rate and bank rate to 6.50 per cent.
Advertisement
The Sensex at the BSE closed 47 points or 0.16 per cent down at 29,927 while the NSE Nifty ended three points lower at 9,262.
In the broader markets, BSE Midcap gained 0.2 per cent while BSE Smallcap index slipped 0.2 per cent.
Among the BSE sectoral indices, Realty index closed with the biggest gain, up 2 per cent. Oil & Gas (up 0.7 per cent), Power (up 0.7 per cent) and Metal (up 0.4 per cent) indices were other notable gainers. FMCG and Telecom indices declined 0.8 per cent and 0.6 per cent respectively.
On Wednesday, the NSE Nifty had closed at record-closing high, up 27 points or 0.30 per cent at 9,265. The BSE Sensex had closed 64 points or 0.21 per cent higher at 29,974.
Top gainers in the Sensex-30 pack: Tata Steel (up 1.7 per cent), Reliance Industries (up 1.7 per cent), Bajaj Auto (up 1.5 per cent), Power Grid (up 1.3 per cent) and Gail (up 1.1 per cent).
Top losers in the Sensex-30 pack: ITC (down 1.7 per cent), ICICI Bank (down 1.4 per cent), SBI (down 1.4 per cent), Coal India (down 1.2 per cent) and Dr Reddy’s Labs (down 0.9 per cent).
Asian markets traded in the negative zone. Japan’s Nikkei 225 Index plunged 1.4 per cent, Singapore’s Straits Times Index slipped 0.1 per cent, Hong Kong’s Hang Seng index declined 0.5 per cent, Korea’s KOSPI index lost 0.4 per cent and China’s Shanghai Composite Index inched up 0.1 per cent.
The Rupee closed 36 paise higher at 64.51 against the US Dollar.
Advertisement
