The benchmark indices fluctuated between gains and losses on Friday as the RBI’s monetary policy committee (MPC) left the buyback rate unchanged at 4 percent. Governor RBI
said the MPC has decided to continue with the “complacent” stance.
The RBI forecasts that fiscal year 21 GDP will contract 9.5 percent, although GDP growth may turn positive in the fourth quarter of fiscal year 21, Das said.
The S&P BSE Sensex fell 50 points to 40,140 levels after previously rising to 40,320 levels. The Nifty50 index, meanwhile, hovered around 11,850 marks. Tata Steel (up 2%), Bharti Airtel, Larsen & Toubro, and Mahindra & Mahindra (all up 1%) were Sensex’s top winners. On the other hand, TCS and Reliance Industries fell 0.7 percent each.
Furthermore, Lakshmi Vilas Bank rose 15 percent after the bank received a non-binding indicative offer from the Clix Group.
The Nifty sector indices traded primarily in green, led by the Nifty Metal index, up 1%.
In the broader market, the S&P BSE MidCap and SmallCap indices were trading at 0.3% each.
Results today
A total of five companies, including Rashtriya Chemicals & Fertilizers, and Steel Strips Wheels, are scheduled to announce their quarterly earnings today, October 9.
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