Share Market Today: Sensex Closes Over 150 Points Lower, Nifty Settles Under 25K After MPC Keeps Rates Unchanged

As markets ended, the Sensex settled 167.71 points lower at 81,467.10, while the Nifty closed the session under the 25,000 mark at 24,981.95, dipping 31.20 points.

Share Market Today: The two key equity benchmark indices, Sensex and Nifty, on Wednesday ended in red after the RBI MPC decided to keep the repo rate unchanged at 6.5 per cent. The BSE Sensex and NSE Nifty50 ended trading lower after beginning on a strong rally before the MPC announcement.

As markets ended, the Sensex settled 167.71 points lower at 81,467.10, while the Nifty closed the session under the 25,000 mark at 24,981.95, dipping 31.20 points.

Stock update

On the 30-share Sensex platform, Tata Motors, State Bank of India, Tech M, Maruti, and Bajaj Finserv ended trading in green. On the other hand, ITC, Nestle, Hindustan Unilever, Reliance, and IndusInd Bank settled the session amongst laggards.

In the broader markets, the indices closed trading in green mostly. The Nifty Smallcap 100 index settled the session higher by 1.33 per cent. 

Sectoral update

Meanwhile, across sectors, the Nifty FMCG index dominated in red and slipped 1.57 per cent. Other laggards included Bank, Oil & Gas, and Private Bank indices. On the other hand, the Nifty Realty index closed the session in green at 2.15 per cent. Other major gainers in the sectors included Pharma and Healthcare Index which climbed 2.04 per cent and 1.85 per cent respectively.

In the previous session on Tuesday, the BSE Sensex gained 585 points to close the session at 81,634, while the NSE Nifty50 climbed 217 points to settle at 25,013.

Macroeconomic Data

The global oil benchmark, Brent crude, climbed 0.82 per cent to touch $77.81 per barrel in futures trade. Official data from the depositories revealed that the foreign instituional investors (FIIs) emerged as net sellers in the capital markets on Tuesday and dumped equities worth Rs 5,729.60 crore.

The rupee traded in a narrow range on Wednesday and ended higher by just 1 paisa at 83.96 (provisional) against the US dollar. Forex traders noted that the RBI's monetary policy action met the expectations of the analysts. Additionally, a muted trend in domestic markets and optimistic US dollar weighed on investor sentiments. 

At the interbank foreign exchange market, the domestic currency opened at 83.92 and eventually closed for the day at 83.96 (provisional), settling 1 paisa higher against its earlier close of 83.97 against the American dollar.