Markets Closed Lower, Baking Stocks Lag


Indices encountered high volatility from the mid-session after the RBI maintained its policy dynamics at the Accommodative stance, while the reverse repo rate has been maintained at 4.90-pc, besides cutting the real GDP growth for fiscal 2020 to 5pc from 6.1pc.

The Sensex closed 70.70 points lower to 40,779, and the NSE’s Nifty fell 35 points to 12,007 on Thursday.

Zee Entertainment, TCS, ITC, L&T and Britannia were among top Nifty gainers, while JSW Steel, Coal India, Bharti Airtel, Tata Steel, and IndusInd bank slipped. To get Stock Tips and Free stock Tips visit our website.

Nifty Bank plunged 266 points or 83% and slipped below the 31,712.95 level. Nifty PSU bank fell 1.80%, and the Nifty Metal slipped 2.31%
In the PSU Bank index, almost all constituents, barring Central bank of India and Syndicate Bank, closed in the red today. Canara Bank lost 3.01%, followed by Union bank down 2.76% and PNB and J&K bank slipped 2.3% each.

Apart from the interest-sensitive sectors, the Nifty Metal slipped 2.33% at 2543.95 while the Nifty Pharma went down 0.86%. Meanwhile, the Nifty Media advanced 2.95% followed by IT, FMCG and Realty gained 1.2% for the day.

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