Post Session: Sensex ends lower post RBI policy; Nifty settles at 9,262

06/04/2017 16:15

The Indian equity ended tad lower on Thursday as investors resorted to profit booking following recent strong gains, tracking weak cues from fellow Asian peers. The market saw some recovery after the Reserve Bank of India kept policy repo rates unchanged in its first bi-monthly monetary policy of this fiscal year, with the objective to bring down headline inflation and combat rising global oil and commodity prices. In a boost to economy, the RBI has raised its outlook for GDP growth to 7.4 per cent in this fiscal from 6.7 per cent last year.

The 30-share barometer index of Bombay Stock Exchange, Sensex closed at 29927.34, down by 46.9 points or by 0.16 per cent, and the NSE Nifty ended at 9261.95, down by 3.2 points or by 0.03 per cent.

“On the basis of an assessment of the current and evolving macroeconomic situation, the Monetary Policy Committee (MPC) decided to keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 6.25 per cent,” said RBI in a policy statement.

The apex bank kept the cash reserve ratio (CRR) unchanged at 4 per cent, while it raised the reverse repo rate by 25 basis points to 6 per cent to deal with excess of liquidity in the system.

During the day’s trade, the BSE Sensex touched intraday high of 29954.25 and intraday low of 29817.59, while the NSE Nifty touched intraday high of 9267.95 and intraday low of 9218.85.

The top losers of the BSE Sensex pack were ITC Ltd. (Rs. 274.35,-1.65%), ICICI Bank Ltd. (Rs. 280.85,-1.40%), State Bank of India (Rs. 292.70,-1.35%), Coal India Ltd. (Rs. 286.65,-1.16%), Dr. Reddy’s Laboratories Ltd. (Rs. 2711.20,-0.91%), among others.

On the flip side, Tata Steel Ltd. (Rs. 501.65,+1.68%), Reliance Industries Ltd. (Rs. 1438.35,+1.66%), Bajaj Auto Ltd. (Rs. 2801.00,+1.46%), Power Grid Corporation of India Ltd. (Rs. 197.20,+1.26%), GAIL (India) Ltd. (Rs. 387.00,+1.18%), were among top gainers on BSE.

On the sectoral front, FMCG and consumer durables stocks emerged as top losers, falling as much as 0.79 per cent and 0.64 per cent, respectively.

The market breadth, indicating the overall strength of the market, was strong. On BSE out of total shares traded 3209, shares advanced were 1570 while 1491 shares declined and 148 were unchanged.

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