Stock Market Today: Sensex, Nifty End In Red Zone Ahead Of RBI MPC Announcements

In currency markets, the Indian rupee hit a fresh low of 87.5 against the dollar, as expectations of a rate cut grew ahead of the RBI's interest rate decision later this week, analysts pointed out

Stock Market Today: Despite the selling pressure in large-cap stocks, the broader markets showed resilience

Source : ABPLIVE AI

Indian benchmark indices ended in the red zone on Wednesday, weighed down by declines in consumer stocks following weak earnings. Investor sentiment stayed cautious ahead of the Reserve Bank of India's upcoming bi-monthly policy announcement on Friday.

The BSE Sensex fell 0.4 per cent, losing 312 points to close at 78,271, while the Nifty ended 0.18 per cent lower, down 43 points at 23,696.30.

On BSE Sensex, top gainers include Adani Ports, Induslnd Bank, Tata Motors, HDFC Bank and Tata Steel. On the other hand, the biggest losers include Asain Paints, Titan, Nestle, HUL and L&T.

Consumer stocks took a hit, with Asian Paints Ltd and Titan Co Ltd dropping over 3 per cent each after both companies reported earnings below analysts' expectations. Nestle India Ltd and Hindustan Unilever Ltd fell nearly 2 per cent each, and ITC Ltd slipped 1.5 per cent ahead of its earnings release on February 6. The BSE FMCG Index dropped 1.4 per cent, marking its third consecutive session of losses.

Broader Market

Despite the selling pressure in large-cap stocks, the broader markets showed resilience, with the BSE MidCap and SmallCap indices rising 0.7 per cent and 1.4 per cent, respectively.

In currency markets, the Indian rupee hit a fresh low of 87.5 against the dollar, as expectations of a rate cut grew ahead of the RBI's interest rate decision later this week, analysts pointed out.

Vinod Nair, Head of Research, Geojit Financial Services, said, “The domestic market traded within a narrow range in negative terrain. Investors are weighing the improved domestic outlook, buoyed by a favourable budget, against lingering global uncertainties stemming from the tariff war. While declining U.S. bond yields and lower crude oil prices have supported market sentiment, the rupee's depreciation could offset these gains. Rate-sensitive sectors are attracting attention ahead of a potential RBI rate cut. Meanwhile, large-cap stocks are well-positioned, benefiting from moderation in valuations.”