RBI repo rate hike stops Sensex record run, falls over 100 points, Nifty down 11,350
With the Reserve Bank of India (RBI) raising repo rate by 25 bps yesterday after the conclusion of the 3-day MPC meet, the markets continued to show their disapproval by stopping their record run that had virtually daily seen them set new all-time records.
With the Reserve Bank of India (RBI) raising repo rate by 25 bps yesterday after the conclusion of the 3-day MPC meet, the markets continued to show their disapproval by stopping their record run that had virtually daily seen them set new all-time records. The benchmark indices opened lower today with Nifty slipping below 11,350 points and Sensex down over 100 points. Led by SBI, Syndicate Bank, Allahabad Bank, Canara Bank, Bank of India, Andhra Bank and Bank of Baroda, Nifty PSU banks was down by 1%.
At 37,388 points, the Sensex is down 132.87 points and Nifty down 36.20 points at 11,310. About 533 shares have advanced, 558 shares declined, and 57 shares are unchanged.
Led by ICICI Bank, Axis Bank, Yes Bank, SBI. Hindalco, Tata Tseel, Bajaj Auto, Tata Motors, Maruti Suzuki are other major losers, Nifty Bank was down 0.5 percent.
However, ONGC, Indiabulls Housing Finance, Lupin, Sun Pharma, Coal India, Bharti Infratel, Infosys, TCS are among the major gainers.
Watch this Zee Business video here:
The Indian rupee opened higher by 6 paise at 68.37 per dollar on Thursday compared to previous close 68.43.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.