Mumbai: After the policy statement of the Reserve Bank, the domestic stock markets came under pressure today and the Sensex and Nifty closed in the red mark, losing early gains.
The 30-share sensitive index Sensex of BSE closed at 52,100.05, down 132.38 points, or 0.25 percent. The Nifty of the National Stock Exchange also fell 20.10 points, or 0.13 per cent, to 15,670.25. On Thursday, both the indices closed at historic record levels.
In the morning, the Sensex had gained about 257 points and the Nifty had gained about 43 points. But by the end of RBI Governor Shaktikanta Das’s statement about the decisions of the Monetary Policy Committee, they got into the red mark. At one point in the afternoon, the Sensex had broken nearly 280 points.
RBI did not make any change in policy rates for the sixth time in a row. It has cut the growth forecast for the current financial year by one percentage point to 9.5 percent. Also, the forecast for retail inflation has been raised. This put pressure on the market.
Investors put money in these companies through additional capital measures for medium, small and small enterprises. BSE Midcap rose 0.63 per cent to 22,511.49 points and Smallcap rose 0.78 per cent to a record high of 24,261.90.
Selling in Reliance Industries along with banking and FMCG sector companies put pressure on the Sensex. On the other hand, buying dominated in financial companies.