Sensex Turns Negative After RBI Keeps Repo Rate Unchanged

Benchmark indices turned negative after monetary policy committee of RBI maintained the repo rate unchanged at 5.15 percent.

Sensex Turns Negative After RBI Keeps Repo Rate Unchanged

The BSE Bankex was trading lower by 0.4 per cent and BSE Auto was down 0.2%

Benchmark indices turned negative after monetary policy committee of RBI maintained the repo rate unchanged at 5.15 percent. At 12.15 pm, the S&P BSE Sensex index had shed more than 100 points from intra-day highs and was at 40,827.62, down 22 points and and the broader NSE Nifty was at 12,028, down 15 points. The BSE Bankex was trading lower by 0.4 per cent at 36,270 and the BSE Auto was at 17,879, down 0.2%. 

The Reserve Bank of India's six-member Monetary Policy Committee (MPC) unanimously kept the repo rate unchanged at 5.15 per cent on Thursday. Repo rate is the key interest rate at which the RBI lends short-term funds to commercial banks. The MPC however lowered its growth forecast to 5 per cent for the current financial year while maintaining an "accommodative" stance, after inflation breached its medium-term target of 4 per cent for the first time in October after 15 months. 

The top loser on the BSE was Coal India, followed by JSW Steel, down 2.4 per cent and Bharti Airtel, down 2.2 per cent. On the other hand, Zee Entertainment, TCS and IOC had gained between 1 per cent to 3 per cent each. Among the interest-rate sensitive stocks, Hero Moto Corp had edged lower by 0.1 per cent at Rs 2,436, M&M lost 0.4 per cent at Rs 523 and Maruti weakened 0.6% at Rs 7030. On the other hand, Bajaj Auto gained 0.3 per cent at Rs 3,264 and ICICI Bank clawed back into the green at Rs 530, up 0.1 per cent.

The BSE advance decline ratio has turned negative, with 1136 stocks declining as against 1018 advances. 

More News