MUMBAI: Equity benchmark indices Sensex and Nifty continued to commerce decrease on Thursday after the Reserve Bank of India determined to maintain the coverage price unchanged for the ninth time in a row, saying meals inflation stays cussed. Continuous overseas fund outflows and weak developments within the US markets additionally drove home equities decrease.
Extending its early commerce decline, the 30-share BSE Sensex tumbled 570.09 factors to 78,897.92.The NSE Nifty tanked 178.2 factors to 24,119.30.
The price enhance cycle was paused in April final yr after six consecutive price hikes, aggregating to 250 foundation factors since May 2022.
Announcing the third bi-monthly financial coverage for the present monetary yr, RBI Governor Shaktikanta Das mentioned the Monetary Policy Committee (MPC) has determined to maintain the repo price unchanged at 6.5 per cent.
He mentioned MPC will stay watchful of elevated meals inflation.
“RBI MPC is in wait and watch mode and has kept the interest rates unchanged, waiting for clues from the largest Central Bank of the world, the US Federal Reserve, before acting. Stock markets will continue to consolidate in the meanwhile,” mentioned Umeshkumar Mehta, CIO, SAMCO Mutual Fund.
Among the 30 Sensex companies, Power Grid, Infosys, Larsen & Toubro, JSW Steel, ExtremelyTech Cement and Asian Paints had been the most important laggards.
Tata Motors, HDFC Bank, Tech Mahindra and ITC had been among the gainers in the course of the preliminary commerce.
In Asian markets, Shanghai and Hong Kong traded larger whereas Seoul and Tokyo quoted decrease.
The US markets ended decrease on Wednesday.
Foreign Institutional Investors (FIIs) offloaded equities value Rs 3,314.76 crore on Wednesday, based on alternate information.
“During the last four days, FIIs have sold Rs 20,228 crore in the cash market. This is a rational thing to do given India’s elevated valuations and the concerns surrounding recession fears in the US and further issues relating to the unwinding of the yen carry trade,” mentioned V Okay Vijayakumar, Chief Investment Strategist, Geojit Financial Services.
Global oil benchmark Brent crude climbed 0.17 per cent to USD 78.46 a barrel.
On Wednesday, the BSE benchmark Sensex rallied 874.94 factors or 1.11 per cent to settle at 79,468.01. During the day, it jumped 1,046.13 factors or 1.33 per cent to 79,639.20.
The NSE Nifty jumped 304.95 factors or 1.27 per cent to 24,297.50. Intraday, it surged 345.15 factors or 1.43 per cent to 24,337.70.
Extending its early commerce decline, the 30-share BSE Sensex tumbled 570.09 factors to 78,897.92.The NSE Nifty tanked 178.2 factors to 24,119.30.
The price enhance cycle was paused in April final yr after six consecutive price hikes, aggregating to 250 foundation factors since May 2022.
Announcing the third bi-monthly financial coverage for the present monetary yr, RBI Governor Shaktikanta Das mentioned the Monetary Policy Committee (MPC) has determined to maintain the repo price unchanged at 6.5 per cent.
He mentioned MPC will stay watchful of elevated meals inflation.
“RBI MPC is in wait and watch mode and has kept the interest rates unchanged, waiting for clues from the largest Central Bank of the world, the US Federal Reserve, before acting. Stock markets will continue to consolidate in the meanwhile,” mentioned Umeshkumar Mehta, CIO, SAMCO Mutual Fund.
Among the 30 Sensex companies, Power Grid, Infosys, Larsen & Toubro, JSW Steel, ExtremelyTech Cement and Asian Paints had been the most important laggards.
Tata Motors, HDFC Bank, Tech Mahindra and ITC had been among the gainers in the course of the preliminary commerce.
In Asian markets, Shanghai and Hong Kong traded larger whereas Seoul and Tokyo quoted decrease.
The US markets ended decrease on Wednesday.
Foreign Institutional Investors (FIIs) offloaded equities value Rs 3,314.76 crore on Wednesday, based on alternate information.
“During the last four days, FIIs have sold Rs 20,228 crore in the cash market. This is a rational thing to do given India’s elevated valuations and the concerns surrounding recession fears in the US and further issues relating to the unwinding of the yen carry trade,” mentioned V Okay Vijayakumar, Chief Investment Strategist, Geojit Financial Services.
Global oil benchmark Brent crude climbed 0.17 per cent to USD 78.46 a barrel.
On Wednesday, the BSE benchmark Sensex rallied 874.94 factors or 1.11 per cent to settle at 79,468.01. During the day, it jumped 1,046.13 factors or 1.33 per cent to 79,639.20.
The NSE Nifty jumped 304.95 factors or 1.27 per cent to 24,297.50. Intraday, it surged 345.15 factors or 1.43 per cent to 24,337.70.
