Markets end lower in a see-saw trade as RBI surprises with status quo

On the Sensex chart, Bharti Airtel, Tata Steel, IndusInd Bank, HeroMoto Corp and Tata Motors were among the major laggards.

Published: 05th December 2019 04:43 PM  |   Last Updated: 05th December 2019 04:43 PM   |  A+A-

sensex, nifty, stock exchange, shares

For representational purposes (File Photo | Reuters)


MUMBAI: Benchmark indices Sensex and Nifty closed lower in topsy-turvy trade on Thursday after the Reserve Bank surprised with its decision to hold key policy rates.

At the closing bell, the 30-share BSE gauge Sensex was lower by 70.70 points or 0.17 per cent at 40,779.59.

The index swung between losses and gains after the central bank kept the rates unchanged. The 50-scrip NSE Nifty settled the day with a loss of 24.80 points or 0.21 per cent at 12,018.40.

On the Sensex chart, Bharti Airtel, Tata Steel, IndusInd Bank, HeroMoto Corp and Tata Motors were among the major laggards.

On the other hand, TCS, ITC, L&T, Infosys and Tech Mahindra led the gains. Sectorally, metal index fell the most, followed by basic materials and energy indices. Capital goods, IT and tech indices moved higher.

The RBI unexpectedly kept benchmark interest rates unchanged on concerns of headline inflation breaching its medium-term target.

After five consecutive cuts in interest rates this year, the six-member Monetary Policy Committee (MPC) headed by RBI Governor Shaktikanta Das unanimously voted to hold the key repo rate at 5.15 per cent and reverse repo rate at 4.90 per cent.

Bankers and economists had widely expected the central bank to cut rates for a sixth time to support a slowing economy, whose growth rate slipped further to a six-year low of 4.5 per cent in the September quarter from 7 per cent a year back.


Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on are those of the comment writers alone. They do not represent the views or opinions of or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp