Stocks

Markets turn volatile as RBI hikes repo rate

| Updated on: Jun 08, 2022
A traffic signal in the foreground of the Bombay Stock Exchange on Dalal Street seems to reflect the mood of the stock markets in Mumbai.

A traffic signal in the foreground of the Bombay Stock Exchange on Dalal Street seems to reflect the mood of the stock markets in Mumbai. | Photo Credit: PAUL NORONHA

Top losers today were Nestle, Asian Paints, Reliance, Bharti Airtel, Brittannia and Dabur

Benchmark indices declined on Wednesday reacting to the RBI’s decision to hike key rates by 50 bps, with the Sensex falling 180 points in early trade.

The 30-share BSE benchmark went lower by 180.22 points to 54,927.12 in early trade after opening the trade in the green. The broader NSE Nifty was trading 51.60 points down at 16,364.75.

From the Sensex pack, Nestle, Asian Paints, Reliance, Bharti Airtel, Brittannia and Dabur were the biggest laggards.

In contrast, ONGC, Tata Steel, Coal India, NTPC, Axis Bank and State Bank of India were among the gainers.

"Indian markets reacted to the outcome of the three-day Monetary Policy Committee meeting by the RBI today," said Mohit Nigam, Head - PMS, Hem Securities.

Elsewhere in Asia, markets in Seoul, Tokyo and Hong Kong were trading in the green, while Shanghai quoted lower.

Stock markets in the US had ended with gains on Tuesday.

Meanwhile, international oil benchmark Brent crude jumped marginally by 0.07 per cent to $120.66 per barrel.

Foreign institutional investors offloaded shares worth a net ₹2,293.98 crore on Tuesday, according to stock exchange data.

Published on June 08, 2022
COMMENTS
  1. Comments will be moderated by The Hindu editorial team.
  2. Comments that are abusive, personal, incendiary or irrelevant cannot be published.
  3. Please write complete sentences. Do not type comments in all capital letters, or in all lower case letters, or using abbreviated text. (example: u cannot substitute for you, d is not 'the', n is not 'and').
  4. We may remove hyperlinks within comments.
  5. Please use a genuine email ID and provide your name, to avoid rejection.

You May Also Like

Recommended for you