Mumbai, India (BBN)- RBI’s move to keep its policy rates unchanged created shock in the domestic stock market with the benchmark Sensex falling over 300 points soon after the monetary policy announcement.
But its recovered slightly and ended down by 155.89 points or 0.59 per cent at 26,236.87, reports The Hindu Business Line.
Similarly, the 50-share NSE index Nifty closed lower by 41.1 points or 0.5 per cent at 8,102.05.
Investors were disappointed as there was widespread expectation that rates would be cut by 25 basis points.
Among BSE sectoral indices, healthcare index fell the most by 1.7 per cent, realty 1.49 per cent, banking 1.07 per cent and IT 0.63 per cent. On the other hand, oil & gas 0.9 per cent, auto 0.42 per cent, metal 0.13 per cent and PSU 0.06 per cent.
Major Sensex losers were Sun Pharma (-5.96%), Axis Bank (-2.00%), SBI (-1.47%), TCS (-1.47%) and Tata Steel (-1.4%), while the top five gainers were Adani Ports (+1.86%), HDFC (+1.74%), Hero MotoCorp (+1.31%), Tata Motors (+0.88%) and M&M (+0.77%).
The S&P BSE Bankex, which tracks the stock price movements of 10 top banks ( 3 public sector and 7 private banks) ended down by 225.18 points at 20,849.49.
Except YES Bank and Federal Bank, the stock price of other 8 banks were down, with maximum drops in the Bank of Baroda, PNB, Axis Bank and SBI stock.