Facebook Pixel Code

Stock markets end flat after RBI hikes repo rate

BSE IT Index was down 1.06%, while BSE Healthcare Index was down 0.79%.

Markets recovered on Tuesday after Reserve Bank of India?s (RBI) policy announcement hiking the repo rate by 25 basis points dragged the BSE barometer Sensex to its intra-day low of 20,554.23. Sensex lost 217.78 points within 9 minutes of the announcement before ending flat at 20,683.51.

Among sectoral indices, BSE Bankex (-0.3%) was marginally down. BSE IT Index was down 1.06%, while BSE Healthcare Index was down 0.79%.

Maruti Suzuki (-8.12%), Axis Bank (-3.28%), Sun Pharmaceutical Industries (2.44%), were top losers on the 30-share Sensex. Meanwhile, most Asian indices were in the green. KOSPI (0.34%), Straits Times (0.66%), Jakarta Composite (0.44%) and Shanghai Composite (0.26%) saw maginal gains. Meanwhile, Hang Seng remained flat.

FIIs have net bought about $279 million worth of Indian shares in January but experts suggest the pace of buying is slowing down. Industry watchers believe that fears of a more aggressive cut in quantitative easing loom, which might impact FII flows to emerging markets such as India.

On Monday, the Dow Jones Industrial Average had ended down 0.26%, while Nasdaq Composite shed 1.08%.

Get live Share Market updates, Stock Market Quotes, and the latest India News and business news on Financial Express. Download the Financial Express App for the latest finance news.

First published on: 28-01-2014 at 19:12 IST
Market Data
Market Data
Today’s Most Popular Stories ×