Sensex crashes by 600 points after RBI decides to keep repo rate unchanged - Hindustan Times
close_game
close_game

Sensex crashes by 600 points after RBI decides to keep repo rate unchanged

Feb 08, 2024 11:18 AM IST

Sensex rises by nearly 200 points ahead of RBI announcement; Nifty at 21,988

Stock market crashed on Thursday after the Reserve Bank of India decided to keep the repo rates unchanged for the sixth time in succession. Sensex crashed by over 600 points at 71,485 while NSE index Nifty dropped at 21,741.

People look at a screen displaying the Sensex results on the facade of the Bombay Stock Exchange (BSE) building in Mumbai.(REUTERS)
People look at a screen displaying the Sensex results on the facade of the Bombay Stock Exchange (BSE) building in Mumbai.(REUTERS)

The stock market opened in green ahead of the crucial announcement by the Reserve Bank of India on its monetary policy committee decision. Sensex jumped by over 200 points to open at 72,386. The National Stock Exchange index Nifty opened at 21,993. 

Paytm shares were seven per cent down in the open after two straight days of rally. The stock opened at 524 in the open but slumped to 461.00. 

Among the Sensex firms, PowerGrid jumped over 4 per cent after the company posted a 10.5 per cent rise in consolidated net profit to 4,028.25 crore in the December quarter, mainly on the back of higher revenues.

HT launches Crick-it, a one stop destination to catch Cricket, anytime, anywhere. Explore now!

HCL Technologies, IndusInd Bank, State Bank of India, Mahindra & Mahindra, Tata Consultancy Services and NTPC were the other major gainers.

ITC, Maruti, Bajaj Finance and Asian Paints were among the laggards.

In Asian markets, Seoul, Tokyo and Shanghai were trading in the positive territory while Hong Kong quoted lower.

Global oil benchmark Brent crude climbed 0.42 per cent to USD 79.54 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth 1,691.02 crore on Wednesday, according to exchange data.

The BSE benchmark declined 34.09 points or 0.05 per cent to settle at 72,152 on Wednesday. The Nifty ended marginally up by 1.10 points or 0.01 per cent to 21,930.50.

Discover the pivotal moments that shaped India's electoral journey on the Eras section of our exclusive Elections product. Access all content absolutely free on the HT App. Download now!
Stay informed on Business News, TCS Q4 Results Live, Jio Financial Services Q4 Results Live along with Gold Rates Today, India News and other related updates on Hindustan Times Website and APPs
SHARE THIS ARTICLE ON
Share this article
  • ABOUT THE AUTHOR
    author-default-90x90

    Follow the latest breaking news and developments from India and around the world with Hindustan Times' newsdesk. From politics and policies to the economy and the environment, from local issues to national events and global affairs, we've got you covered.

SHARE
Story Saved
Live Score
OPEN APP
Saved Articles
Following
My Reads
Sign out
New Delhi 0C
Tuesday, April 23, 2024
Start 14 Days Free Trial Subscribe Now
Follow Us On