Benchmark indices Sensex and Nifty slid for the second consecutive day on Thursday (February 6, 2025) amid caution ahead of the RBI's monetary policy decision and fresh foreign fund outflows.
The 30-share BSE Sensex dropped 213.12 points or 0.27% to settle at 78,058.16. During the day, it tumbled 427.29 points or 0.54% to 77,843.99.
The NSE Nifty declined 92.95 points or 0.39% to 23,603.35 with 30 of its constituents closing lower.
Among Sensex scrips, Bharti Airtel, Titan, NTPC, State Bank of India, ITC, Tata Steel, Mahindra & Mahindra and Tata Motors were the major laggards.
Adani Ports, Infosys, Axis Bank, HCL Technologies, Tech Mahindra and IndusInd Bank were among the gainers.
Foreign Institutional Investors (FIIs) turned net sellers on Wednesday (February 5, 2025) offloading equities worth Rs 1,682.83 crore, according to exchange data.
The Reserve Bank of India (RBI) on Wednesday (February 5, 2025) started deliberations on the monetary policy and the decision will be announced on Friday (February 7, 2025).
“The benchmark indices experienced a moderate decline as investors awaited the RBI’s decision on a potential rate cut amidst the ongoing trade war. The broader market remained cautious and in a consolidation phase despite the government’s focus on boosting consumption to cushion lower growth,” Vinod Nair, Head of Research, Geojit Financial Services, said.
In Asian markets, Seoul, Tokyo and Hong Kong settled in the positive territory. European markets were trading with gains. U.S. markets ended higher on Wednesday (February 5, 2025).
Global oil benchmark Brent crude rose by 0.60% to $75.06 a barrel.
The BSE barometer gauge declined 312.53 points or 0.40% to settle at 78,271.28 on Wednesday (February 5, 2025). The Nifty dropped 42.95 points or 0.18% to 23,696.30.