MUMBAI: Benchmark Sensex snapped its seven-session checklist atmosphere spree to finish 85 issues decrease nowadays after the RBI hiked the policy rate on inflation concerns.
The Reserve Bank's Monetary Policy Committee raised the benchmark lending rate by way of zero.25 according to cent for the second one time in two months. The repo rate, at which the central bank lends to other banks, now stands at 6.5 according to cent.
The 30-share BSE Sensex, which had rallied to a fresh lifetime high of 37,711.87 in early industry, dived after the RBI introduced its policy resolution.
It staged a bounce-back in overdue afternoon session, however after all closed decrease by way of 84.96 issues, or zero.23 according to cent, at 37,521.62 issues.
The gauge had won 1,110.21 issues within the earlier seven record-setting periods.
The broader 50-issue NSE Nifty too slipped from its checklist high, losing 10.30 issues or zero.09 according to cent to finish at 11,346.20. Intra-day, it shuttled between 11,390.55 and 11,313.55.
Interest rate delicate auto, finance and banking shares finished with losses.
Meanwhile, foreign portfolio investors (FPIs) bought stocks price a net of Rs 572.21 crore, while home institutional investors (DIIs) offered equities to the tune of Rs 290.87 crore the day prior to this, provisional information showed.
The Reserve Bank's Monetary Policy Committee raised the benchmark lending rate by way of zero.25 according to cent for the second one time in two months. The repo rate, at which the central bank lends to other banks, now stands at 6.5 according to cent.
The 30-share BSE Sensex, which had rallied to a fresh lifetime high of 37,711.87 in early industry, dived after the RBI introduced its policy resolution.
It staged a bounce-back in overdue afternoon session, however after all closed decrease by way of 84.96 issues, or zero.23 according to cent, at 37,521.62 issues.
The gauge had won 1,110.21 issues within the earlier seven record-setting periods.
The broader 50-issue NSE Nifty too slipped from its checklist high, losing 10.30 issues or zero.09 according to cent to finish at 11,346.20. Intra-day, it shuttled between 11,390.55 and 11,313.55.
Interest rate delicate auto, finance and banking shares finished with losses.
Meanwhile, foreign portfolio investors (FPIs) bought stocks price a net of Rs 572.21 crore, while home institutional investors (DIIs) offered equities to the tune of Rs 290.87 crore the day prior to this, provisional information showed.
Sensex slips from record after RBI hikes rate; bank, auto stocks drag
![Sensex slips from record after RBI hikes rate; bank, auto stocks drag]()
Reviewed by Kailash
on
August 01, 2018
Rating:
