Sensex and Nifty turned red after the Reserve Bank of India (RBI) kept repo rate unchanged at 5.15%. While Sensex fell 102 points to 40,747, Nifty lost 30 points to 12, 018. Banking stocks which were among the top gainers on BSE and NSE, fell after the RBI policy meet announcement. BSE bankex fell 180 points to 36,242 and Bank Nifty lost 146 points to 31,837. Shares of SBI (1.26%), IndusInd Bank (1.54%) ,YES Bank (2.06%), RBL Bank (1.61%), and Federal Bank (1.02%) were the top losers on BSE bankex.
Of 30 Sensex stocks, 21 were trading in red.
Top Sensex losers were Sun Pharma (1.98%), YES Bank (1.87%) and Bharti Airtel (1.59%). TCS, ITC and Reliance Industries were the top Sensex gainers.
Meanwhile, BSE mid cap and small cap indices were trading lower by 30 points and higher by 5 points, respectively. Among sectoral losers, metal stocks fell the most with BSE metal index declining 154 points to 9,547. IT and consumer durables stocks were the top gainers with BSE IT index gaining 99 points to 15,138 and BSE consumer durables index rising 186 points to 25,266.
Market breadth was negative with 1016 stocks rising against 1121 falling on BSE.
35 securities on BSE hit their 52-week highs against 73 declining to their 52-week lows.
Before the monetary policy was announced, Sensex rose 117 points to 40,968 and Nifty gained 27 points to 12,071. Banking stocks were among the top gainers with BSE Bankex rising 113 points to 36,536 against previous close of 36,423.
Bank Nifty too was trading 85 points higher at 32,062. Among other gainers, BSE consumer durables index gained 183 points to 25,262. The six-member MPC, which started its three-day deliberations on the policy review on December 3 released its resolution on the website at 11.45 AM.
The MPC was widely expected to slash repo rate by 25 basis points (bps) to 4.9 per cent, while maintaining a dovish stance.
By Aseem Thapliyal