Domestic stock markets, closed on a negative note today after Reserve Bank of India (RBI) kept the repo rate the key rate at which the central bank lends short-term funds to commercial banks unchanged at 6.5 per cent.
Bombay Stock Exchange (BSE) benchmark index Sensex settled at 35,884.41, down 249.90 points or 0.69 per cent from the previous close, and the Nifty50 index of the National Stock Exchange (NSE) fell 84.55 points or 0.74 per cent to close at 10,784.95.
All the sectoral indices on BSE and NSE traded in the red led by metal, auto and healthcare stocks.
Know about Wednesday’s trading session:
1) Only ten out of the 50 stocks on the Nifty closed in the green, with Sun Pharma being the biggest drag on the index, settling 6.72 per cent lower.
Other major losers on the 50-scrip index Nifty were Hindalco, IndiaBulls Housing Finance, Vedanta and Tata Motors.
2) Twenty four out of 30 Sensex stocks closed in the red.
3) Top laggards in the 30-share Sensex pack were Sun Pharma, Vedanta, Tata Motors, Tata Steel, Mahindra & Mahindra and Coal India. ITC, ICICI Bank and Sun Pharma contributed the most to the losses.
4) Shares of Tata Motors Ltd shares settled 3. 74 per cent lower after S&P cut credit rating for the automaker and its British luxury car unit Jaguar Land Rover (JLR), cited weaker-than-expected profitability at JLR and uncertainties from Brexit.
5) Shares of integrated steel and power company Prakash Industries Ltd hit their lowest since April, 2017, after Enforcement Directorate attached its properties worth 1.17 billion rupees in coal block allocation case.
6) The central bank kept interest rates unchanged on Wednesday to offer support for an economy that has lost some momentum, in a decision that was widely expected as inflation has eased significantly, reported .
7) The central bank also retained its ‘calibrated tightening’ stance as expected.
8) RBI said starting in the January-March quarter of 2019 it would begin to lower banks’ mandatory bond holding ratios by 25 basis points each quarter until it reaches 18 per cent of deposits, in a move aimed to push banks to lend more.
9) Crude oil prices remained volatile amid expectations of supply cuts by OPEC, the group of 15 of the world’s top oil producers which is to meet on December 7. Brent crude traded lower at $61.02 per barrel.
10) The rupee continued to depreciate and traded at Rs. 70.53 to a dollar from its close of Rs. 70.49.>