Equity benchmark Sensex dropped 215 factors on Friday, monitoring losses in index heavyweights Reliance Industries, HDFC and SBI, after the Reserve Bank saved rates of interest unchanged and maintained its accommodative stance.
The 30-share index ended 215.12 factors or 0.39 per cent decrease at 54,277.72, whereas the broader NSE Nifty fell 56.40 factors or 0.35 per cent to 16,238.20.
Reliance Industries was the highest laggard within the Sensex pack, shedding over 2 per cent, adopted by ExtremelyTech Cement, SBI, Tata Steel, HDFC and Axis Bank. On the opposite hand, IndusInd Bank, Bharti Airtel, Tech Mahindra, Maruti, NTPC and Bajaj Auto have been among the many gainers.
Binod Modi, Head – Strategy at Reliance Securities, mentioned home equities traded range-bound however sharp correction in RIL dragged the market.
“RBI’s policy meeting outcome was broadly on expected line with continued focus to support economic recovery through soft monetary policy,” he mentioned, including that RIL witnessed sharp correction after the Supreme Court’s ruling got here in favour of Amazon within the Reliance-Future Group deal.
Further, weak cues from Asian markets additionally weighed on sentiments.
Elsewhere in Asia, bourses in Shanghai, Hong Kong and Seoul have been within the purple, whereas Tokyo ended with good points.
Equities in Europe have been buying and selling on a constructive observe in mid-session offers.
Meanwhile, worldwide oil benchmark Brent crude superior 0.56 per cent to USD 71.69 per barrel.