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Sensex Today: Investors are keenly awaiting RBI MPC’s decision on interest rates after two days of discussions, along with commentary on the state of the economy and projections for GDP growth and inflation outlook
Stock Market Today
Sensex Today: Benchmark equity indices, BSE Sensex and NSE Nifty50, experienced downward pressure on Friday after the Reserve Bank of India (RBI) governor, as anticipated, announced a 25 basis point (bps) rate cut. However, the central bank left its policy stance unchanged.
The RBI’s Monetary Policy Committee (MPC) decided to lower the repo rate by 25 bps to 6.25% from 6.5%. The committee also unanimously opted to maintain a ‘neutral’ stance, with RBI Governor Sanjay Malhotra emphasizing the focus on aligning inflation with the target while supporting growth.
On the stock markets, the BSE Sensex reached a high of 78,357 before falling to a low of 77,476, a decline of nearly 900 points during intra-day trading. The Sensex eventually closed the day down by 198 points at 77,860, marking its third consecutive day of losses, though it ended the week with a gain of 354 points.
Meanwhile, the NSE Nifty 50 index fluctuated between 23,694 and 23,443, finishing at 23,560, down by 43 points.
Among the Sensex 30 stocks, ITC saw a strong 4.5% gain, while Bharti Airtel surged 3.5% following a five-fold increase in its Q3 profit. Other notable gainers included Zomato, Mahindra & Mahindra, UltraTech Cement, IndusInd Bank, Tech Mahindra, and NTPC.
However, ITC and SBI saw declines of over 2% each following the release of their Q3 results. Other laggards included Adani Ports, TCS, ICICI Bank, Reliance Industries, and Power Grid.
Sector-wise, the Nifty FMCG and PSU Bank indices dropped around 1.5% each, while the Oil & Gas index fell nearly 1%. On the other hand, the Nifty Metal index surged by over 2%.
In the broader market, the MidCap indices managed to post marginal gains, while the SmallCap index registered slight losses. The India VIX, a measure of market volatility, decreased by 4%.
The overall market breadth was negative, with 2,433 out of 4,057 stocks on the BSE closing lower, while 1,478 stocks advanced.
