NIFTY50 and SENSEX close lower, RBI decided to keep repo rate unchanged at 6.5%; Stock Market LIVE Updates

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The NIFTY Midcap 100 index (-0.05%) closed lower today. Meanwhile, NIFTY Smallcap 100 Index (-0.3%) closed in the red today.

The BANK NIFTY (-1.7%) index closed in the red. Fall in ICICI Bank (-2.9%), HDFC Bank (-1.5%), Kotak Bank (-3.4%) dragged down the index.

On the flip side, NIFTY PSU index was among top gainers, rising 2% in today’s trading session.

RBI decision to keep repo rate unchanged at 6.5% impacted the market sentiments. Click here to know key takeaways from today’s policy

Food delivery platform Zomato reported a quarterly profit of ₹138 crore for the third quarter ended 31 December. Revenue from its mainstay food delivery business grew 48% for the quarter, while revenue from its quick commerce division more than doubled.

To know more about Zomato Q3 result, Click here

India’s benchmark indices – NIFTY50 (-1.1%) and Sensex (-1.0%) – gave up early gains to trade lower as RBI decided to keep the repo rate unchanged at 6.5%. Sell-off in banking and financial stocks drag down markets.

• Long build up: SBI, BPCL, Power Grid, Coal India, Hindalco

• Short build up: Britannia, Kotak Bank, ICICI Bank, Nestle India

Shares of Page Industries gained 1.2% after its net profit rose 23% YoY to ₹152 crore for the quarter ended 31 December 2023. Meanwhile, its revenue from operations stood at ₹1,229 crore, up 2.4% YoY.

India’s benchmark indices – NIFTY50 (-1.0%) and SENSEX (-1.2%) – gave up early gains to trade lower as RBI decided to keep repo rate unchanged at 6.5%. Sell-off in banking and financial stocks drag down markets. Out of the NIFTY50 space, 37 stocks are in red, with major FMCG stocks like Nestle India and Britannia amongst top losers.

Zydus Lifesciences shares rose 1.2% today with a day high of 808 per share after the company received final US FDA nod to manufacture and market Dexamethasone Tablets. These tablets are used to treat inflammation of the skin, joints, lungs, and other organs.

Shares of Greaves Cotton rose more than 6% intraday after its Q3 net profit saw substantial rise. Net profit was at ₹58 crore compared to ₹6.4 crore in the same quarter of last year. Meanwhile, its revenue from operations rose 29.6% YoY to ₹665.4 crore, while EBITDA was at ₹35.4 crore.