BSE Sensex and Nifty 50, slipped over 0.5% after the RBI announced the slash repo rate by 40 bps today. The Sensex 30-share was down 168 points (0.45 % to trade at 30,795), whereas the broader Nifty 50 index was ruling at 9,054, and down 53 points or 0.58% today
Biggest Losers: BSE Sensex
- Tata Steel – 1.92%
- HCL Tech – 1.69%
- Power Grid – 1.57%
- NTPC – 1.22%
- ONGC – 1.17%
- Axis Band – 1%
What in RBI lacerate repo rate?
RBI announced to cut repo rate by 40 bps while maintaining the stance as accommodative. Governor Shaktikanta Das said that the MPC was unanimous on the need to cut the repo rate. However, the reverse repo rate has been cut by 40 bps to 3.35 per cent from 3.75 per cent earlier.
RIL share price gain: RIL shares gained one per cent to Rs 1,453 apiece on BSE in otherwise weak trade on Friday as the company announced that KKR will invest Rs 11,367 crore for a 2.32 per cent equity stake in Jio Platforms.
Q4 earnings: Trent, Wabco India, Godrej Industries, IDFC First Bank, Supreme Industries, BASF India, Bayer CropScience and JSW Steel are among 25 companies which are scheduled to announce their March quarter earnings on Friday.
Top Sensex gainers: BSE
- Ultratech Cement – 2.45%
- State Bank of India (SBI) – 1.48%
- Infosys – 1.39%
- Asian Paints – 1.29%
- Tech Mahindra – 1.07%
FII and DII data:
- Foreign institutional investors (FIIs) sold shares worth Rs 258.73 crore,
- Where as domestic institutional investors (DIIs) bought shares worth Rs 401.78 crore on a net basis on Thursday, according to the provisional data available on the NSE.
Global markets insights:
During overnight trade on the Wall Street, US stock market indices settled lower. The Dow Jones Industrial Average fell 0.41% to end at 24,474.12 points, while the S&P 500 lost 0.78% to 2,948.51. The Nasdaq Composite dropped 0.97%, to 9,284.88.