Sensex, Nifty end lower in a see-saw trade as RBI surprises with status quo; Bharti Airtel, Tata Steel among top losers

On the Sensex chart, Bharti Airtel, Tata Steel, IndusInd Bank, HeroMoto Corp and Tata Motors were among the major laggards.

Press Trust of India December 05, 2019 17:03:07 IST
Sensex, Nifty end lower in a see-saw trade as RBI surprises with status quo; Bharti Airtel, Tata Steel among top losers
  • At the closing bell, the 30-share BSE gauge Sensex was lower by 70.70 points at 40,779.59 while NSE Nifty settled the day with a loss of 24.80 points at 12,018.40

  • Sectorally, metal index fell the most, followed by basic materials and energy indices

  • The RBI unexpectedly kept benchmark interest rates unchanged on concerns of headline inflation breaching its medium-term target

Mumbai: Benchmark indices Sensex and Nifty closed lower in topsy-turvy trade on Thursday after the Reserve Bank surprised with its decision to hold key policy rates.

At the closing bell, the 30-share BSE gauge Sensex was lower by 70.70 points or 0.17 percent at 40,779.59. The index swung between losses and gains after the central bank kept the rates unchanged.

Sensex Nifty end lower in a seesaw trade as RBI surprises with status quo Bharti Airtel Tata Steel among top losers

Representative image. Reuters

The 50-scrip NSE Nifty settled the day with a loss of 24.80 points or 0.21 percent at 12,018.40.

On the Sensex chart, Bharti Airtel, Tata Steel, IndusInd Bank, HeroMoto Corp and Tata Motors were among the major laggards.

On the other hand, TCS, ITC, L&T, Infosys and Tech Mahindra led the gains.

Sectorally, metal index fell the most, followed by basic materials and energy indices.

Capital goods, IT and tech indices moved higher.

The RBI unexpectedly kept benchmark interest rates unchanged on concerns of headline inflation breaching its medium-term target.

After five consecutive cuts in interest rates this year, the six-member Monetary Policy Committee (MPC) headed by RBI Governor Shaktikanta Das unanimously voted to hold the key repo rate at 5.15 percent and reverse repo rate at 4.90 percent.

Bankers and economists had widely expected the central bank to cut rates for a sixth time to support a slowing economy, whose growth rate slipped further to a six-year low of 4.5 percent in the September quarter from 7 percent a year back.

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