Markets in downward trend as RBI keeps key rates unchanged

10 Aug 2023 , 01:05 PM

Indian benchmark indices are maintaining a negative trend in Thursday’s afternoon trade after the Reserve Bank of India kept its key rates unchanged for the third time in a row, as majorly expected by the experts. The benchmark indices are falling in line with their global peers amidst deflation in China.

On the sectoral front, Nifty Metal and Media stocks are trading with 1% uptick. FMCG stocks are trading nearly 1% lower. All other sectoral indices are in trading in a negative sentiment.

At around 1.00 PM, BSE Sensex is trading at 65,726, down by 0.41%. NSE Nifty is trading lower by 75 points at 19,557.90.

On the gainers’ pack, Adani Ports is leading, followed by Adani Enterprises. JSW Steel, ONGC, and Tech Mahindra are trading with an uptick of about 1%.

Asian Paints is the top loser on nifty pack today. Tata Motors, ITC, Britannia Industries, and Nestle India are the other laggards on NSE. 

A total of 19 stocks advanced, and 31 declined on the nifty index today.

While the RBI’s monetary policy committee kept the benchmark repo rate at 6.5%, central bank governor Shaktikanta Das warned of a significant rise in headline inflation in the near term and highlighted uncertainties in the domestic food price forecast.