Markets closed lower on after the RBI kept the key repo rate unchanged

share market tips, Equity Tips, Market UpdateIndian stock markets closed lower on Wednesday after the RBI kept the key repo rate unchanged. BSE Sensex lost 205.26 points to settle at 32,597.18 whereas NSE Nifty tripped 74.15 points to conclude at 10,044.10.
RBI’s Monetary Policy Committee did not make any changes in the current interest rates after the MPC meet held on today. As announced by the Apex bank, current interest rates remain unchanged with the repo rate at 6%, reverse repo rate at 5.75% and cash reserve ratio at 4%.
The heavyweight stocks such as HDFC Bank, ICICI Bank, State bank of India, ITC, L&T, Sun Pharma and Tata Motors contributed the most to the Sensex decline.
In Nifty, shares of Reliance rose 1.6%, Tech Mahindra rose 1.4%, Maruti Suzuki advanced 1.37%, HUL spiked 1.10% and Ambuja cement rose 0.98% which were the top gainers.
The top losers in Nifty include stocks such as Bosch down by 3.84%, Hindalco by 3.15%, Bharti Infratel down 3.01%, Eicher Motors fell 2.73% and Vedanta down 2.39% as the top losers in today’s trade.

 

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