Markets Plunge Downwards As RBI Hikes Repo Rate By 25 bps
Suparna / 28 Jan 2014
After witnessing gain in the morning session, the markets came down after the RBI’s decision to hike the repo rate by 25 bps to 8% in its third quarter monetary policy.
Market reversed intraday gains after the Reserve Bank of India (RBI) surprised the street by hiking the repo rate by 25 bps to 8% in its third quarter monetary policy review for 2013-14. RBI has kept the CRR unchanged at 4%. The Nifty was down by 18 points at 6117 and the Sensex by 52 points at 20654. Both the indicators were down by 0.30% each.
The advance-decline ratio is on the negative side. On the NSE, 1495 shares are in the green and 1638 shares are in red.
Top Nifty Gainers: Tata Steel is leading the gainer list so far up by 2.72 %, followed by Ranbaxy Labs, Hindalco, Tata Motors and Jaiprakash Asso.
Top Nifty Losers: Lupin is leading the losers list so far down by 2.44 %, followed by Axis Bank, Sun Pharma, HUL and PNB.
On sectoral front, 5 out of 13 sectors are in red. IT was the top loser down by 106 points, followed by Bankex and Health Care which are down by 93 points and 79 points respectively. Mid-Caps and Small-Caps are trading with nominal gain.
Asian markets are trading on mixed note. The Taiwan market is down by 135 points, followed by Nikkei and Hang Seng which is down by 25 points and 16 points respectively. The Straits Times and KOSPI were trading with nominal gain.
Buzzer:- Just Dial stock extend the morning losses and tumbled 13.87% to Rs 1,269.
Nifty Future continued to trade at 6116 level.
If you want to stay updated with the share market news today, keep a close watch on the indian stock market today with real time movements like sensex today live and overall stock market today trends. Investors tracking ipo allotment status, ipo news today, or the latest ipo india can also follow daily updates along with bse share price live data. Whether you are learning how to invest in stock market in india, preparing for a market crash today, or searching for the best stocks to buy in india, insights on top gainers today india, top losers today india, trending stocks india and long term stocks india help in making informed investment decisions.