NEW DELHI: It took a back-to-back repo rate hike by the Reserve Bank of India (RBI), the first such choice in almost 5 years, to dampen market spirits, as Sensex and Nifty have been dropping greater than 0.60 consistent with cent each in morning business on Thursday.
The 30-share BSE Sensex used to be flat at pre-opening consultation but started sinking once trading started in Thursday. At 9.57 am, the gauge used to be down 272.61 issues at 37,249.01. The broader 50-share NSE Nifty had slipped below the 11,300-mark, and used to be down 73 issues.
On Wednesday, the financial policy committee of RBI hiked repo rate by 25 basis issues (bps) to 6.50 consistent with centciting inflationary process, just two months after it had effected a equivalent hike in it June policy meet. The markets reacted negatively to the verdict with Sensex finishing in the red, snapping a profitable run that spanned over greater than per week and saw the index gaining greater than 1,100 issues in the process.
All sectoral sub-indices except for Nifty Pharma and Nifty FMCG have been in the red, with auto, metal and PSU Bank sub-indices dropping to the song of one.50 consistent with cent each.
Sun Pharma, PowerGrid and Coal India stocks have been topping the charts.
The 30-share BSE Sensex used to be flat at pre-opening consultation but started sinking once trading started in Thursday. At 9.57 am, the gauge used to be down 272.61 issues at 37,249.01. The broader 50-share NSE Nifty had slipped below the 11,300-mark, and used to be down 73 issues.
On Wednesday, the financial policy committee of RBI hiked repo rate by 25 basis issues (bps) to 6.50 consistent with centciting inflationary process, just two months after it had effected a equivalent hike in it June policy meet. The markets reacted negatively to the verdict with Sensex finishing in the red, snapping a profitable run that spanned over greater than per week and saw the index gaining greater than 1,100 issues in the process.
All sectoral sub-indices except for Nifty Pharma and Nifty FMCG have been in the red, with auto, metal and PSU Bank sub-indices dropping to the song of one.50 consistent with cent each.
Sun Pharma, PowerGrid and Coal India stocks have been topping the charts.
RBI rate cut dampens markets, Sensex sinks above 200 points
![RBI rate cut dampens markets, Sensex sinks above 200 points]()
Reviewed by Kailash
on
August 02, 2018
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