Mumbai, Aug 8 (IANS) India’s equity indices closed lower on Thursday following a hawkish stance by the Reserve Bank of India (RBI) governor in the monetary policy.
At closing, Sensex fell 581 points or 0.73 per cent to 78,886 and Nifty slipped 180 points or 0.74 per cent to 24,117.
The Central Bank kept the repo rate unchanged at 6.5 per cent with a growth rate outlook for the current financial year at 7.2 per cent.
On the Bombay Stock Exchange (BSE), 1,768 shares were in green mark, 2,137 shares in red mark and 105 shares closed without any change.
Midcap and smallcap indices also saw a decline. The Nifty Midcap 100 index fell 192 points or 0.34 per cent to 56,681 and the Nifty Smallcap 100 index fell 76 points or 0.41 per cent to 18,307.
Among the sectoral indices, IT, PSU Bank, FMCG, metal, realty, energy and infra were the major laggards. Fin Service, pharma, media and private bank were the major gainers.
In the Sensex pack, Tata Motors, HDFC Bank, Bharti Airtel, ITC, IndusInd Bank and Axis Bank were the top gainers. Asian Paints, Infosys, JSW Steel, UltraTech Cement, Power Grid, L&T and HCL Tech were top losers.
Sujan Hajra, Chief Economist and Executive Director, Anand Rathi Shares and Stock Brokers, said that “The RBI in its 50th MPC meet decided to keep its stance on both policy rates and liquidity unchanged. A key point to note is his emphasis on food inflation. On a net basis we think the policy was nothing out of consensus and hence remains neutral for the markets.”
According to market watchers, the recent trend in institutional activity indicates a clear trend. FIIs are in a risk-off mood and are playing it safe with sustained selling. During the last four days, FIIs have sold for Rs 20,228 crore in the cash market.
–IANS
avs/na
Disclaimer
The information contained in this website is for general information purposes only. The information is provided by TodayIndia.news and while we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.
Through this website you are able to link to other websites which are not under the control of TodayIndia.news We have no control over the nature, content and availability of those sites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.
Every effort is made to keep the website up and running smoothly. However, TodayIndia.news takes no responsibility for, and will not be liable for, the website being temporarily unavailable due to technical issues beyond our control.
For any legal details or query please visit original source link given with news or click on Go to Source.
Our translation service aims to offer the most accurate translation possible and we rarely experience any issues with news post. However, as the translation is carried out by third part tool there is a possibility for error to cause the occasional inaccuracy. We therefore require you to accept this disclaimer before confirming any translation news with us.
If you are not willing to accept this disclaimer then we recommend reading news post in its original language.
