[ad_1]
HDFC Bank and ICICI Bank declined 0.9 per cent and 1.5 per cent, respectively.
The domestic stock market indices closed Wednesday's session on a negative note after Reserve Bank of India (RBI) raised interest rates for the second straight meeting today. The S&P BSE Sensex slipped 84.96 points, or 0.23 per cent, to close at 37,521.62. The NSE's Nifty50 index tripped 10.30 points or 0.09 per cent and settled at 11,346.20. In early trade today, the 30-share Sensex surged past 37,700 for the first time ever to hit an intra-day high of 37,711.87. The broader Nifty50 hit a lifetime high of 11,390.55.
The RBI's Monetary Policy Committee (MPC) raised the repo rate by 25 basis points to 6.50 percent. It is the first time since October 2013 that the rate has been increased at consecutive policy meetings.
Major gainers in the Sensex pack were Coal India, TCS, ITC, Sun Pharma, Power Grid and ONGC (rising between 0.82 per cent to 3.42 per cent), rising between 2.27 per cent to 4.71 per cent. Top laggards on the BSE index were HDFC, Bharti Airtel, Vedanta, Tata Steel, Maruti and ICICI Bank, ending with losses between 1.42 per cent and 2.29 per cent.
Coal India, Infratel, IOC, Lupin and Dr Reddy's (rising between 2.22 per cent to 3.72 per cent) led the pack of Nifty gainers, while main losers on the index were ICICI Bank, Hindalco, Maruti, Vedanta and Eicher Motors, ending with losses between 1.75 per cent and 2.42 per cent.
A Bloomberg report on Tuesday said that the United States and China were seeking to resume talks to defuse a battle over import tariffs. However, later reports that the White House plans to propose tariffs of 25 percent instead of the initially proposed 10 percent on $200 billion of imported Chinese goods injected uncertainty back into global financial markets.
Banks and automobiles were the top drag with Maruti Suzuki India Ltd shedding as much as 2.3 per cent on lacklustre July sales, while Tata Motors Ltd slumped 5.3 per cent after it reported its first quarterly loss in nearly three years on Tuesday.
HDFC Bank and ICICI Bank declined 0.9 per cent and 1.5 per cent, respectively. Among gainers, Reliance Industries Ltd rose about 1.5 per cent after an international arbitration panel issued an award in favour of a consortium that includes the company, rejecting the government's claims in respect a gas dispute.
Oil marketing companies Indian Oil Corp, Bharat Petroleum Corp Ltd and Hindustan Petroleum Corp Ltd climbed as Brent futures receded further. (With Agencies inputs)
[ad_2]
Source link
No comments:
Post a Comment