India’s benchmark stock market indices Sensex and Nifty settles tumbled on Wednesday, October 09, 2024. The 30 Sensex firms trades 167.71 points low to settle down at 81,467.10 points on Wednesday. The Nifty50 index on NSE also settles down with a fall. Nifty tumbled 31.20 points to settle down at 24,981.95 levels in Wednesday trade. Sensex and Nifty opened high in Wednesday trade.
Also Read: Sensex And Nifty Opens High Ahead Of RBI Monetary Policy Statement
Sensex pack, stocks like Tata Steel, ITC, Asian Paints, JSW Steel, Mahindra and Mahindra, NTPC, Adani Ports, Reliance Industries etc were among the losers. However, Tata Motors, SBI, Tech Mahindra, ICICI Bank were among the gainers as the day’s trading ends on Wednesday.
Monetary Policy Statement’s Impact On Sensex And Nifty
This fall is on the back of the Monetary Policy statement by RBI Governor Shaktikanta Das on Wednesday. Notably, this was the first RBI MPC meeting after three new external members appointed by the government on the panel last week. Reserve Bank of India (RBI) in its 51st Monetary Policy Committee (MPC) meeting kept the Repo Rate unchanged at 6.5%. This is the tenth straight time when the key rate has been kept unchanged. The three day MPC meeting was kicked-off on Monday.
Also Read: RBI Keeps Lending Rates Unchanged For The Tenth Straight Time
RBI’s stand was much in line with the expectations that the benchmark repo will be kept unchanged. Notably, recently the western central banks have slashed their benchmark interest rates with the US Fed Reserve had slashed its benchmark rates by 50 basis points.
Sensex, Nifty settled down positively on Tuesday. This was first Time in six trading sessions. This was after the ruling BJP maintained lead in Haryana Assembly Polls in trends.
Also Read: RBI MPC Meeting: GDP Projection To Interest Rates – What Are The Key Takeaways?
