Sensex closes 116 points down after RBI keeps rate unchanged
The Sensex closed 0.40% lower at 28,444.01points, while the Nifty ended 0.36%, or 31.20 points lower at 8,524.70
Mumbai: The benchmark 30-share BSE Sensex shed 116 points on Tuesday after the Reserve Bank of India (RBI) said rates may be reviewed early next year, including outside the policy review cycle, and kept policy rates unchanged in its fifth bi-monthly policy review.
The Sensex closed 0.40%, or 115.61 points, lower at 28,444.01points, while the National Stock Exchange’s broader barometer 50-share Nifty declined 0.36%, or 31.20 points, to end at 8,524.70 points.
The Reserve Bank of India (RBI), in its monetary policy review on Tuesday, kept policy rates unchanged, in line with expectations, even as the central bank indicated rates could ease early next year as inflation shows signs of cooling.
Among Sensex gainers, Hindalco Industries Ltd rose 2.51% to ₹ 171.40, Bharti Airtel Ltd added 1.81% to ₹ 384.50, while Larsen and Toubro Ltd advanced 1.12% to ₹ 1,639.90.
Among losers, Infosys Ltd fell 2.18% to ₹ 2,127.95 as the company turned ex-bonus. GAIL India Ltd fell 2.85% to ₹ 465.35, Mahindra and Mahindra Ltd shed 2.36% to ₹ 1,265.55.
Bajaj Auto Ltd fell 1.24% to ₹ 2,602.85 after the company reported that its total sales for November fell 20% on a month-on-month basis to 309,259 units.
Among the sectoral indices, the BSE IT index was the top loser, down 1.48%.
IRB Infrastructure Developers Ltd rose 0.32% to ₹ 270.45 after the company said in a notice to BSE that its arm started collecting toll on Pathankot-Amritsar road.
Shipping companies were trading higher after the Rajya Sabha passed merchant shipping amendment Bill. Great Eastern Shipping Co. Ltd rose 0.38% to ₹ 395, Mercator Ltd rose 5.27% to ₹ 30.95, Varun Shipping Co. Ltd rose 4.86% to ₹ 7.34 and Shipping Corp. of India Ltd rose 1.79% to ₹ 65.25.
Sun Pharma Advanced Research Co. Ltd rose 9.75% to ₹ 199.25. The company said in a notice to BSE that US Food and Drug administration (FDA) has issued a complete response letter to its new drug application for Latanoprost BAK-free eyedrops.
Since the beginning of this year, the Sensex has gained 34.69%, while foreign institutional investors have bought $16.28 billion from local equity markets.
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