Markets trade lower after initial optimism ahead of RBI policy decision 
Market Updates

Markets trade lower after initial optimism ahead of RBI policy decision

The 30-share BSE benchmark Sensex climbed 280.38 points to 78,551.66 in early trade. The NSE Nifty went up 77.25 points to 23,773.55

PTI

New Delhi: Benchmark indices Sensex and Nifty gave up early gains and were trading lower on Thursday amid caution ahead of the RBI's monetary policy decision and fresh foreign fund outflows.

The 30-share BSE benchmark Sensex climbed 280.38 points to 78,551.66 in early trade. The NSE Nifty went up 77.25 points to 23,773.55.

PSU Watch is now on Whatsapp Channels. Click here to join

Later, both the benchmark indices gave up early gains and were quoting lower. The BSE benchmark traded 126.78 points lower at 78,141.80, and the Nifty quoted 42.85 points down at 23,653.45.

From the 30-share blue-chip pack, Mahindra & Mahindra, Titan, Tata Steel, ITC, NTPC, Bharti Airtel, HDFC Bank and Kotak Mahindra Bank were among the major laggards.

Power Grid, Bajaj Finance, Infosys, Tech Mahindra, HCL Technologies, Reliance Industries and Hindustan Unilever were among the gainers.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 1,682.83 crore on Wednesday after a day's breather, according to exchange data.

In Asian markets, Seoul, Tokyo and Hong Kong were trading in the positive territory.

US markets ended higher on Wednesday.

"All eyes are on Friday’s RBI MPC decision, with hopes for a rate cut to boost consumption," Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd, said.

Global oil benchmark Brent crude went up by 0.12 percent to USD 74.70 a barrel.

The BSE bellwether gauge declined 312.53 points or 0.40 percent to settle at 78,271.28 on Wednesday. The Nifty dropped 42.95 points or 0.18 percent to 23,696.30.

(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)

EASE reforms supported PSU banks in advancing 'Viksit Bharat' vision: IBA Chief Executive

Bhopal and Khajuraho airports in MP top AAI's customer satisfaction 2025 first half chart

Hindustan Zinc launches guidebook to promote workplace equity, inclusive environment

Centre committed to overhaul Jharkhand's infra, implement Rs 2 lakh crore projects: Gadkari

NHAI takes action against contractor, engineer for poor quality work