Share Market Today: Sensex Falls 582 Points; Nifty Ends Near 24110 After RBI MPC Outcome

Share market today: On the 30-share Sensex platform, Asian Paints, Infosys, PowerGrid, L&T, UltraCemco, HCL Tech were among the losers

Share market today: The two key equity benchmarks, Sensex and Nifty, on Thursday closed lower amid volatility after the Reserve Bank of India (RBI) decided to keep the repo rate unchanged for the ninth time in a row as food inflation remains stubborn. The 30-share BSE Sensex dropped by 582 points to close at 78,886. On the other hand, the NSE Nifty50 slumped 181 points to 24,117.

Retaining its unambiguous focus on inflation, the Monetary Policy Committee (MPC), which consists of three RBI and three external members, kept the benchmark repurchase or repo rate unchanged at 6.50 per cent.

Stock update

On the 30-share Sensex platform, Asian Paints, Infosys, PowerGrid, L&T, UltraCemco, HCL Tech were among the losers. On the flip side, Tata Motors, HDFC Bank, Bharti Airtel, ITC, IndusInd Bank, Sun Pharma emerged gainers.

The broader indices closed lower, with the Nifty Next 100 and Nifty 100 leading the declines, dropping 0.79 per cent and 0.74 per cent, respectively. Midcap and Smallcap shares also finished in the red.

Sectoral update

Among the sectoral indices, IT, Metal, and OMC sectors were the hardest hit, with losses reaching up to 1.90 per cent.

In the previous session on Wednesday, the BSE Sensex rallied 875 points to settle at 79,468, while the NSE Nifty50 jumped 305 points to 24,298.

Global update

In Asian markets, Shanghai, and Hong Kong settled higher while Seoul and Tokyo ended lower. European markets were trading in the negative territory. The US markets ended lower on Wednesday.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 3,314.76 crore on Wednesday, according to exchange data.

Global oil benchmark Brent crude declined 0.66 per cent to $77.83 a barrel.

Rupee dips 1 paise 

The rupee consolidated in a narrow range and settled for the day lower by 1 paisa at 83.96 (provisional) against US dollar on Thursday, after the Reserve Bank expectedly kept the benchmark interest rate and stance unchanged for the ninth straight policy meeting.

At the interbank foreign exchange market, the local unit opened at 83.94 and touched an intraday low of 83.97 and a high of 83.93 against the dollar during the session.

It finally settled at 83.96 (provisional) against the American currency, down 1 paisa from its previous close. On Wednesday, the rupee consolidated in a narrow range and settled for the day lower by 3 paise at 83.95 against US dollar.