Indian Shares Drift Lower Ahead Of RBI Rate Decision
The central bank’s first hike in nearly four years triggered selling in rate-sensitive stocks as investors weighed tighter financial conditions and higher crude prices.
- On Wednesday, the BSE Sensex and Nifty opened lower as investors turned cautious ahead of the RBI MPC decision, with mixed global cues adding to uncertainty.
- Crude Oil Near $100 per barrel continued to weigh on sentiment, as elevated crude prices remained a key concern for Indian markets amid supply pressures.
- Foreign Institutional Investors remained sellers on Tuesday, offloading equities worth Rs 2,961.30 crore, while market breadth turned negative with 1,681 stocks declining on the NSE against 827 advancing.
- Saurav Ghosh, co-founder of Jiraaf, stated that elevated energy and food prices strengthened the case for a rate increase, with markets factoring in at least 50 bps of cumulative tightening by December.
- Technical Research Analyst Deepesh Sarawagi at Choice Broking noted the near-term setup remains constructive, though the ongoing FII selling streak presents a key overhang to sustained recovery.
62 Articles
62 Articles
Sensex-Nifty Crash: Market Loses Over ₹10 Lakh Crore As Crude Tops $104, RBI Tightens Policy
The Indian stock markets were hit hard with selling on Thursday, October 8, when the Sensex fell over 1,000 points, while the Nifty fell below 22,250 marks. The fall became even worse as the markets opened on a weak
Stock Market Crash: The stock market was once again devastated on Thursday. The Sensex and Nifty crashed in an instant. The BSE Sensex plunged by more than 900 points in one fell swoop.
Stock markets decline in early trade as RBI signals more tightening
Mumbai, Oct 08: Benchmark indices Sensex and Nifty drifted lower in early trade on Thursday as growing prospect of tighter domestic and global monetary conditions persisting for longer, surging crude oil prices and foreign fund outflows dented sentiment. The 30-share BSE Sensex declined 264.97 points to 72,408.15 in early trade. The 50-share NSE Nifty was down 87.50 points to 22,507.65. Among the 30 Sensex firms, ITC, Adani Ports, Bharat Electro…
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