Nifty Ends Below 10900 As RBI Revised Its Growth Forecast

India’s share market ended the volatile session with losses on Wednesday, after the RBI revised its growth forecast to 6.9pc from 7pc estimated earlier. The Nifty slumped below the 10,900. Sectoral weakness in Auto, metal and banking stocks pulled the indices lower.

The frontline BSE Sensex lost 286-pts to settle at 36,690.50, with Hindustan Unilever being the top gainer and Mahindra and Mahindra (M&M) the biggest loser.

The NSE Nifty50 index closed the day at 10,855.50, down 92.75-pts with Zee Entertainment being the top  gainer and Indiabulls Housing the biggest loser. The other gainers in Nifty followed are Cipla, Yes Bank and HeroMotoCorp.

On the sectoral stocks, while IT, Media and Pharma shares witnessed buying support, the shares of all other sectors were under stress to sell.

Nifty Bank, Realty and Auto declined by 1 to 2%. Barring IT and pharma, all other sectoral gauges concluded in the red today. Metal, financial and PSU stocks also witnessed selling pressure. The PSU Bank index was the worst performer for the day, with its index closing down 3.36%, while the metals index ended 2.39% lower.

Shares of Cipla rose 2.76 to Rs513.95 per share  after the pharma company’s Q1consol net profit rose 6% to Rs.478.19-Cr.

For Better Stock Trading, Go On Free Stock Tips.

Previous Articles:

Share Market Tips; Top stocks in Action today

RBI Reduces Repo-Rate By 35bps, Nifty Bank Index Rises

Indiabulls-HF Shares Falls 8pc After Tepid Q1 Results

Sensex, Nifty Marginally Lower ahead of RBI monetary policy

Top Stocks To observe on Wednesday in View of Results

Please follow and like us: