Sensex, Nifty Trade Flat on Profit Booking; Broader Markets Underperform

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Last Updated: June 08, 2023, 12:02 IST

Domestic markets were firm in Thursday’s intra-day, after the Reserve Bank of India (RBI) kept repo rate unchanged at 6.5 per cent. “The full effect of the policy rate hikes will be visible in the coming months,” said RBI governor Shaktikanta Das, adding that domestic demand situations remained conducive for growth.

The Indian rupee remained mostly unchanged after the policy decision, while the benchmark 10-year bond yield rose to 7.01 per cent.

Frontline indices the S&P BSE Sensex gained over 150 points to hit day’s high of 63,317 levels, whereas Nifty50 surged nearly 50 points to scale 18,775 day’s high. Both the Nifty 50 and Sensex were less than 1 per cent below the record highs.

Broader markets, meanwhile, outperformed benchmark indices as Nifty Midcap 100, and Nifty Smallcap 100 indices surged up to 0.3 per cent.

Besides, rate-sensitive sectors traded mixed. While Nifty Auto, and Nifty Realty indices slipped up to 0.5 per cent; Nifty Bank, and Nifty Financial Services indices climbed up to 0.2 per cent.

Global Cues

Tokyo shares dropped Thursday on profit-taking following recent gains, with falls of US tech shares and a shock interest rate hike by Canada’s central bank also encouraging selling. The benchmark Nikkei 225 index lost 0.85 percent, or 272.47 points, to 31,641.27, while the broader Topix index fell 0.67 percent, or 14.80 points, to 2,191.50.

The S&P 500 and Nasdaq closed in negative territory on Wednesday as investors took profits after a months-long megacap stocks run and ahead of key economic and policy events next week.

Aparna DebAparna Deb is a Subeditor and writes for the business vertical of News18.com. Among other things, financial market, economy and policies interest her …Read More



Source: www.news18.com

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