Benchmark domestic equity indices today ended with modest losses, extending their losing streak to the third consecutive session. The broader market indices at BSE displayed mixed trends.
The 30-share index at the Bombay Stock Exchange, Sensex, dipped 198 points, or 0.25 percent, to close at 77,860. Similarly, the National Stock Exchange Nifty-50 fell 43 points, or 0.18 percent, to settle at 23,560. In the Forex market, the rupee today appreciated by 15 paise to settle at 87 rupees and 42 paise against the US dollar.
The RBI-appointed Monetary Policy Committee (MPC) decided to lower the repo rate by 25 bps to 6.25 per cent from 6.5 per cent. The RBI MPC has also unanimously decided to maintain its ‘neutral’ stance and remain “unambiguously focused on a durable alignment of inflation with the target while supporting growth”, said RBI governor Sanjay Malhotra. On the bourses, the BSE Sensex hit a high of 78,357, and then tumbled to a low of 77,476 – down nearly 900 points in intra-day deals. The Sensex eventually ended the day with a loss of 198 points at 77,860. In the process, the BSE Sensex was down for the third straight day, but still managed to end the week 354 points higher. The NSE Nifty 50 index swung in the range of 23,694 – 23,443, before signing-off the day at 23,560 – down 43 per cent. Among the Sensex 30 shares, ITC surged 4.5 per cent. Bharti Airtel rallied 3.5 per cent on the back of 5-fold jump in Q3 profit. Zomato, Mahindra & Mahindra, UltraTech Cement, IndusInd Bank, Tech Mahindra and NTPC were the other prominent gainers. On the other hand, ITC and SBI slipped over 2 per cent each a day after announcing their Q3 performance. Adani Ports, TCS, ICICI Bank, Reliance Industries and Power Grid were the other laggards on Friday. Sectorally, the Nifty FMCG and PSU Bank indices slipped around 1.5 per cent each. The Oil & Gas index was also down nearly 1 per cent. Whereas, the Nifty Metal index surged over 2 per cent in trades. In the broader market, the MidCap indices managed to end the day with marginal gains, while the SmallCap registered mild losses. India VIX – the volatility index dropped 4 per cent. The overall market breadth was negative. Out of 4,057 stocks traded on the BSE, 2,433 ended in red, while 1,478 moved up.
In the Indian Bullion Market, 24 Karat Gold was trading at 84,740 rupees per 10 grams, while Silver 999 Fine was trading at 96,040 rupees per kilogram, a short while ago. Brent Crude was trading at 74 dollars and 78 cents per barrel, and WTI Crude was trading at around 71 dollars and eight cents per barrel, when reports last came in.