Business Today

Sensex closes 113 points lower, Nifty at 10,476 after RBI keeps repo rate unchanged

While the Sensex closed 113 points lower to 34,082 level, the Nifty fell 21 points to 10,476 level. Banking stocks led the fall with BSE bankex losing 125 points to 29,072 level.

twitter-logo BusinessToday.in        Last Updated: February 8, 2018  | 10:44 IST
Sensex closes 113 points lower, Nifty at 10,476 after RBI keeps repo rate unchanged

The Sensex and Nifty lost steam in the last 30 minutes even as the Reserve Bank of India (RBI) kept key policy rates unchanged in its sixth bi-monthly monetary policy statement as per expectations.

The indices also took cues from US market futures with S&P, Nasdaq and Dow Jones falling in preopen trade.

While the Sensex closed 113 points lower to 34,082 level, the Nifty fell 21 points to 10,476 level.

"A neutral stance from RBI and no hike in the US Fed rate can support for a recovery in the short-term since a large portion of a change from a reducing interest rate to a rising scenario may be factored in the up ticked bond yields. India's the 10yr Govt bond yield has hiked to 7.55% compared to 6.90% in the last 3 months," said Vinod Nair, Head of Research at Geojit.

Banking stocks led the fall with BSE bankex losing 125 points to 29,072 level.

The losses would have been higher without the contribution of the maximum sectoral gainer, the BSE oil and gas index which closed 260 points higher to 15,692 level.

The BSE consumer durables index was another major gainer with the index rising 157 points to 20,895 level.

Brokers said RBI's decision to keep key interest rate unchanged was largely in line with investor expectations but lowering of economic growth projection dampened sentiments.

Top BSE gainers were Century Plyboards (15.24%), Chambal Fertilisers (11.79%) and Rain Industries (9.56%).

Natco Pharma (8.06%),  Vakrangee (5%) and Redington India (4.48%) were the top BSE losers.

Market breadth was positive with 1987 stocks closing higher against 787 ending lower on BSE.

Coal India (2.48%), ONGC (2.24%) and Asian Paints (0.91%) were the top gainers on Sensex.

Bharti Airtel (2.03%), Wipro (1.85%)  and L&T (1.58%) were the top Sensex losers.

The Sensex recovered by 470 points in early morning trade but erased gains in afternoon to trade more than 100 points lower than the opening level.

Meanwhile, Asian markets closed mixed with Shanghai Composite Index (1.82%) and Hang Seng (0.89%) closing lower. Nikkei and Taiwan TSec  50 index rose 147 points to close at 10,551 level. Nikkei too rose 0.16% to 21.645 level.

Youtube
  • Print

  • COMMENT
BT-Story-Page-B.gif
A    A   A
close