February 18, 2024
Sensex and Nifty 50 Slip as RBI Keeps Key Interest Rate Unchanged
Finance Stock Markets

Sensex and Nifty 50 Slip as RBI Keeps Key Interest Rate Unchanged

Sensex and Nifty 50 Slip as RBI Keeps Key Interest Rate Unchanged

Sensex and Nifty 50 Slip as RBI Keeps Key Interest Rate Unchanged

Sensex Today Highlights (08 Feb 2024, 03:36:03 PM IST):

Indian benchmark indices closed significantly lower after the RBI’s decision to maintain rates at 6.5%. Sensex ended down 723.57 points (1%) at 71,428.43, and Nifty dropped 212.55 points (0.97%) to 21,717.95. Nifty FMCG and Private Bank were the leading losers among sectoral indices, down 2.06% and 2.59%, respectively, while PSU Bank gained 2%. Broader market indices closed in the red, and the volatility index increased by 1.67%.

In Europe, shares opened flat, with the STOXX 600 index maintaining at 485.55 points. China’s shares closed higher following the appointment of a new securities watchdog head and measures to stabilize stock markets. The CSI 300 Index was up 0.6%, and the Shanghai Composite Index climbed 1.3%. Hong Kong’s Hang Seng Index lost 1.3%, with Alibaba Group Holding witnessing a 6.1% decline after missing third-quarter revenue estimates.

China’s cabinet replaced Yi Huiman as chairman of the China Securities Regulatory Commission (CSRC) with Wu Qing, a seasoned regulator known for decisive actions.

The decision had an impact on market sentiment, contributing to the downward trend in domestic equity benchmark indices.

(More to come)

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