Market remains indifferent to RBI’s rate cut, closes in red
The stock market on Friday remained indifferent to the Reserve Bank of India’s (RBI) rate cut as Sensex and Nifty closed lower for the third consecutive session.
The stock market on Friday remained indifferent to the Reserve Bank of India’s (RBI) rate cut as Sensex and Nifty closed lower for the third consecutive session.
The stock market closed lower on Wednesday due to losses in consumer stocks amid weak earnings.
The benchmark indices surged 1.8 per cent on the back of strong gains in capital goods, banking, energy, and auto stocks on Tuesday.
Stock market fell on Monday amid losses in global markets as the US President Donald Trump announced new tariffs on key trading partners, including Canada, Mexico, and China.
Stock market closed higher on Friday, a day before the announcement of Budget, for the fourth consecutive session.
On the broader market, the S&P BSE MidCap and SmallCap ended with losses at 1.77 per cent and 0.88 per cent respectively.
Healthy buying was witnessed in the banking and finance stocks. A positive trend in the Asian markets also supported the domestic indices.
Top gainers on the Sensex included Tata Steel, HDFC Bank, Ultratech Cement, PowerGrid, ONGC, Kotak bank and Axis Bank.
Asian Paint was the only stock in the index that ended in the green, up by 0.32 per cent.
NTPC, ONGC, Tech Mahindra, PowerGrid, Infosys and HCL Tech were among the major laggards.