Sensex closes at 19435, down 67 points
The Sensex closed at 19435, down 67 points and the Nifty was at 5831, down 29 points.
The Reserve Bank of India (RBI) has increased repo rate by 25 bps to 6 percent and reverse repo rate by 50 bps to 5 percent to contain rising inflation.
Suzlon Energy, DLF, Maruti Suzuki, Sun Pharma were among the top gainers with 3.00 percent, 2.51 percent, 2.09 percent, 1.81 percent up respectively.
Infosys,
GAIL,
Sterlite
Ind,
Reliance
Comm
were
among
the
topl
losers
with
2.85
percent,
2.71
percent,
2.69
percent,
2.50
percent
down
respectively.
4:32
PM
Nifty recovers to 5900; banks up
At 1:32 am, the benchmark Nifty showed smart recovery by touching 5900 level after initial marginal sell-off.
RBI's credit policy announcement pushed the markets lower by around 100 points on Sensex but immediately that was recovered, which seemed like markets factored in key rate hikes.
The Sensex was trading at 19609, up 108 points and the Nifty was at 5893, up 32 points.
Financials
were
up
by
1pc
each
whereas
Infosys,
TCS,
Reliance
Industries
and
BHEL
along
with
metal
companies'
were
on
drag.
2:21
pm
Nifty continues to go red
At 12:12 pm, the NSE Nifty was trading with negative bias. It slipped further post RBI's credit policy but did not fall much as benchmarks already discounted a hike in policy rates.
The
Reserve
Bank
of
India
(RBI)
has
increased
repo
rate
by
25
bps
to
6pc
and
reverse
repo
rate
by
50
bps
to
5pc.
The
Central
Bank
said
inflation
remained
a
dominant
concern.
12:34
pm
Nifty opens on negative note
The benchmark Nifty started on negative note amid volatility, after witnessing a rally for the past seven sessions where it gained 380 points.
At 9:01 am, the Sensex was trading at 19514, up 12.6 points and the Nifty was at 5861, up 0.35 point. The CNX Midcap rose 13 points to 9148.
The frontliners were ONGC, GAIL, SBI, HUL, ITC, Tata Steel and Bharti Airtel
Markets were dragged by Ambuja Cements, Maruti, TCS and DLF, Unitech and HDFC Bank
Asian
markets
also
added
to
the
negative
note
in
the
market.
9:45
am
OneIndia News