October 9, 2024
New Delhi, India
Markets
The Sensex fell by 167.71 points to close at 81,467.10, while the Nifty50 dropped 31.20 points to end at 24,981.95 on Wednesday. Despite early gains, both indices slipped into negative territory as FMCG and Energy stocks dragged down the markets.
Key Highlights:
- Top Losers: ITC, Reliance Industries, Nestle India, ONGC, and HUL were the top losers, with declines up to 3.04%.
- Sector Performance: The Pharma and Realty sectors outperformed, gaining over 2% each. However, FMCG, Bank Nifty, and OMCs ended in the red.
- RBI Repo Rate: The RBI Monetary Policy Committee kept the repo rate unchanged at 6.5%, marking the tenth consecutive hold. The policy stance shifted from ‘withdrawal of accommodation’ to ‘neutral.’
- Top Gainers: Cipla, Trent, Tata Motors, SBI, and Tech Mahindra led the gains, rising up to 2.58%.
Outlook: The markets faced selling pressure from FMCG and Energy stocks, while Pharma and Realty offered some respite. Investors will watch for upcoming economic data to determine the next market move.
Disclaimer:
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