Markets snap 5-day winning run as Reserve Bank cuts growth forecast for current fiscal
Mumbai: Snapping the five-day winning run, benchmark Sensex dropped by 56 points in a highly volatile trade on Friday after the Reserve Bank cut the growth projection for 2024-25 and kept the policy rates unchanged.
After oscillating between highs and lows during the day, the 30-share BSE benchmark Sensex declined 56.74 points or 0.07 per cent to settle at 81,709.12. In the past five trading days, the BSE benchmark jumped 2,722.12 points or 3.44 per cent.
The NSE Nifty dipped 30.60 points or 0.12 per cent to settle at 24,677.80.
From the 30-share pack, Adani Port, Bharti Airtel, Asian Paints, IndusInd Bank, Bajaj Finserv, Reliance Industries, Infosys, UltraTech Cement, HDFC Bank, HCL Technologies and ICICI Bank were among the laggards. Tata Motors, Axis Bank, Maruti, Larsen & Toubro, ITC and Tata Steel were among the gainers.
Among sectoral indices, metal jumped 1.17 per cent, consumer durables (1.16 per cent), auto (0.92 per cent), services (0.82 per cent) and consumer discretionary (0.63 per cent). Tech, BSE Focused IT and IT were the laggards.
The rupee appreciated by 5 paise to settle at 84.66 against US dollar on Friday, as the RBI left repo rate unchanged at 6.5 per cent in its monetary policy decision.
On the weekly basis, the BSE benchmark jumped 1,906.33 points or 2.38 per cent and the Nifty climbed 546.7 points or 2.26 per cent. Global oil benchmark Brent crude dipped 0.46 per cent to $71.76 a barrel.
