Sensex, Nifty Close Lower Amid Caution Ahead of RBI Policy Decision
Indian stock markets closed lower on Thursday as consumer stocks weighed heavily on the indices, with investors awaiting the RBI's policy decision.
MRF shares fell 4%, hitting a 52-week low after a 38% YoY profit decline.
Indian stock markets saw a decline on Thursday, reversing initial gains, as major stocks like HDFC Bank, ITC, and M&M dropped. The BSE Sensex fell 0.45% to 77,911, and the NSE Nifty 50 dropped 0.44% to 23,592, with investors waiting for the RBI's monetary policy decision. The Indian rupee hit a record low of 87.5675 against the US dollar due to a bearish trend and demand for dollars.
Key highlights:
- SBI's Q3 results showed an 84% YoY rise in profit, reaching Rs 16,891 crore.
- MRF shares fell 4%, hitting a 52-week low after a 38% YoY profit decline.
- Swiggy shares dropped 7% to a 52-week low after its Q3 loss widened.
- Info Edge saw a 3% increase in shares after its profit surged 60% YoY.
- Welspun Corp shares declined 3% despite a significant profit increase.
Today, about 174 companies, including ITC, SBI, and Airtel, will release Q3 earnings.
Global markets showed positive movement, with Asian shares rising and European futures also pointing to gains, supported by strong healthcare stock performances.
