Here are all the bulk deals from Wednesday’s session
The benchmark BSE index snapped an eight-session winning streak to end 0.23 per cent lower at 37,521.62.
By ETMarkets.com |
ThinkStock Photos
The broader NSE Nifty closed 0.09 per cent lower at 11,346.2. It had hit an all-time high of 11,390.55 earlier in the session.
The stock market shed early gains to end lower on Wednesday, pulled down by financial and auto stocks, after the Reserve Bank of India raised interest rates for the second straight meeting, Reuters reported.
The RBI’s Monetary Policy Committee (MPC) raised the repo rate by 25 basis points to 6.50 per cent. It is the first time since October 2013 that the rate has been increased at consecutive policy meetings.
The reverse repo rate was also raised by 25 basis points to 6.25 per cent.
The benchmark BSE index snapped an eight-session winning streak to end 0.23 per cent lower at 37,521.62.
The broader NSE Nifty closed 0.09 per cent lower at 11,346.2. It had hit an all-time high of 11,390.55 earlier in the session.
“Domestic equity indices opened the day on a positive note but eventually succumbed to selling pressure at higher levels. While market reaction to the rate hike was muted, we did see some sharp selling pressure in interest rate sensitive stocks. On the other hand, manufacturing conditions across India improved at a modest and slower pace at the start of the quarter, reflecting softer rises in output, new orders and employment,” said Abhijeet Dey, Senior Fund Manager-Equities, BNP Paribas MF.
ADVERTISEMENT
Check out the bulk deals on NSE and BSE from Wednesday’s session:
