Indian stocks declined on Thursday after the Reserve Bank of India kept rates steady but hinted at further rate hikes if necessary to combat inflation. Despite the pause, the RBI made it clear that the decision was not meant to be a policy pivot.
S&P BSE Sensex closed at 62,848.64, a loss of 294.32 points or 0.47 percent from the previous close.
NTPC was the top gainer in the S&P BSE Sensex with a 2.62 percent uptick. Kotak Mahindra Bank was the biggest laggard, shedding 2.68 percent.
At the sectoral level, Power was the top-gainer with a 0.89 percent uptick, followed by Utilities which advanced 0.74 percent. Realty has declined the most, by 1.5 percent, followed by Telecommunications which has shed 1.1 percent.
The broader S&P Nifty 50 opened at 18,725.35 and touched a high of 18,777.90. The index closed at 18,634.55, declining 0.49 percent from Wednesday’s close.
NTPC topped with a 3.1 percent rally. Grasim Industries was the biggest laggard, declining 3.06 percent.
In Nifty, at the sectoral level, Metal was the only sector that closed in the green, gaining 0.16 percent. Realty declined 1.59 percent whereas Media dropped 1.52 percent.
Market Analysis
Indian Stocks Finish Lower
2023-06-08 14:21:55
