Sensex crashes by 600 points after RBI decides to keep repo rate unchanged
Sensex rises by nearly 200 points ahead of RBI announcement; Nifty at 21,988
Stock market crashed on Thursday after the Reserve Bank of India decided to keep the repo rates unchanged for the sixth time in succession. Sensex crashed by over 600 points at 71,485 while NSE index Nifty dropped at 21,741.
The stock market opened in green ahead of the crucial announcement by the Reserve Bank of India on its monetary policy committee decision. Sensex jumped by over 200 points to open at 72,386. The National Stock Exchange index Nifty opened at 21,993.
Paytm shares were seven per cent down in the open after two straight days of rally. The stock opened at ₹524 in the open but slumped to ₹461.00.
Among the Sensex firms, PowerGrid jumped over 4 per cent after the company posted a 10.5 per cent rise in consolidated net profit to ₹4,028.25 crore in the December quarter, mainly on the back of higher revenues.
HCL Technologies, IndusInd Bank, State Bank of India, Mahindra & Mahindra, Tata Consultancy Services and NTPC were the other major gainers.
ITC, Maruti, Bajaj Finance and Asian Paints were among the laggards.
In Asian markets, Seoul, Tokyo and Shanghai were trading in the positive territory while Hong Kong quoted lower.
Global oil benchmark Brent crude climbed 0.42 per cent to USD 79.54 a barrel.
Foreign Institutional Investors (FIIs) offloaded equities worth ₹1,691.02 crore on Wednesday, according to exchange data.
The BSE benchmark declined 34.09 points or 0.05 per cent to settle at 72,152 on Wednesday. The Nifty ended marginally up by 1.10 points or 0.01 per cent to 21,930.50.
