The Bombay Stock Exchange Sensex fell 45.24 points or 0.16% (at 3:30 pm) on Wednesday after the Reserve Bank of India decided to keep its key policy rates unchanged. The National Stock Exchange Nifty closed 0.75 points up or .01% higher at 8,769. While the BSE Bankex index fell 0.37%, BSE Finance index dropped by 0.28%.
After the RBI announcement about its repo rates on Wednesday afternoon, the BSE Sensex plunged over 180 points. Bank stocks took a major hit, with shares of Punjab National Bank dropping 1.52%, Axis Bank trading 0.94% lower, and Kotak Mahindra Bank down 0.68%. HDFC, State Bank of India and Bank of Baroda were the gainers among banks.
Tata Steel was the top gainer on the Sensex on Wednesday. During the day’s trading, the company’s shares went up 2.2% to Rs 480, while Infosys Ltd shares dropped 1% to Rs 934.90. This comes after the company reported a net profit of Rs 232 crore in the third quarter. It had reported losses of Rs 2,748 crore for the same period last year.
The rupee was trading at 67.36 during closing hours, 0.08% higher from its previous close of 67.41. The home currency opened at 67.37 a dollar on Wednesday morning.
Meanwhile, a subdued session on Wall Street and uncertainty over the United States’ policy outlook led to a dip in Asian markets. The Dow Jones Industrial Average went up 37.87 points (0.19%) to 20,090.29, the S&P 500 rose by 0.52 points (0.02%) to 2,293.08 and the Nasdaq Composite gained 10.67 points (0.19%) to 5,674.22.
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