The results of the monetary policy meeting of the Reserve Bank of India have been announced. This time the RBI has not cut the repo rate, giving shock to the expectations of the industry and the capital market. At the same time, the central bank has also reduced the GDP growth estimate.
Due to this decision of RBI, there was an atmosphere of disappointment in the investors. This is the reason that the Sensex and Nifty lost their gains on Thursday, the fourth trading day of the week. After crossing the figure of 41 thousand in the initial trade, in the end the Sensex dropped to 70.70 points and reached the level of 40 thousand 779. In this respect, there is a fall of more than 250 points. At the same time, the Nifty lost 24.80 points to close at 12,018.
Talking about BSE Index, shares of L&T and Infosys were the top gainers apart from TCS and ITC. At the same time, the biggest decline was in Airtel’s stock. Shares of Tata Steel, IndusInd Bank, Tata Motors, Hero MotoCorp, SBI, Sun Pharma and Yes Bank also closed on the red mark.
Decision in the RBI Meeting
The results of the Reserve Bank of India’s monetary policy review meeting were announced on Thursday. The RBI has not cut the repo rate this time and it remains at 5.15 per cent. However, before this, the RBI had cut the repo rate five times in a row. Apart from this, RBI has reduced the GDP growth estimate from 6.1 per cent to 5 per cent. At the same time, the Reserve Bank raised its estimate of inflation for the second half of the current financial year to between 5.1 – 4.7 per cent. Earlier it was kept at 3.5- 3.7 per cent.