Markets fall in early trade ahead of RBI monetary policy decision

The 30-share BSE Sensex fell 235.99 points to 65,759.82. The NSE Nifty declined 64.2 points to 19,568.35.

Published: 10th August 2023 10:04 AM  |   Last Updated: 10th August 2023 10:04 AM   |  A+A-


Reserve Bank of India. (File Photo)


MUMBAI: Benchmark equity indices declined in early trade on Thursday ahead of RBI's monetary policy decision amid a weak trend in global markets.

Investors also remained on the sidelines ahead of the US inflation data announcement.

The 30-share BSE Sensex fell 235.99 points to 65,759.82.

The NSE Nifty declined 64.2 points to 19,568.35.

From the Sensex pack, Asian Paints, HCL Technologies, ITC, Tata Consultancy Services, Tata Motors, Tata Steel, ICICI Bank, Tech Mahindra, Nestle and Bharti Airtel were the major laggards.

NTPC, UltraTech Cement, Power Grid, Maruti and Mahindra & Mahindra were among the gainers.

In Asian markets, Tokyo traded in the green, while Seoul, Shanghai and Hong Kong quoted lower.

The US markets ended in the negative territory on Wednesday.

"The market today will be focussed on the MPC's decision on rates, stance and communication on tone. The near market consensus is that the rates and stance will remain unchanged and the tone will be hawkish in view of the high inflation.

"Any deviation from these expectations can move the markets," said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

Globally markets would be focused on the US CPI numbers to be released today, Vijayakumar said, adding that the Fed's rate action will be based on that.

Foreign Institutional Investors (FIIs) turned buyers on Wednesday after continuous offloading of equities for the past several days.

They bought equities worth Rs 644.11 crore on Wednesday, according to exchange data.

Global oil benchmark Brent crude declined 0.16 per cent to USD 87.41 a barrel.

The BSE benchmark had climbed 149.31 points or 0.23 per cent to settle at 65,995.81 on Wednesday.

The Nifty gained 61.70 points or 0.32 per cent to end at 19,632.55.

Follow The New Indian Express channel on WhatsApp


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