Sensex, Nifty Fall After Rate Hike; Realty Stocks Top Laggard: Midday Market Update
Sensex was down 0.19% at 62,507.15 points. While NSE Nifty 50 traded day 48 points lower, down 0.26% at 18,594.60 points.
The Indian benchmark indices fell after the Reserve Bank of India hiked the repo rate by 35 basis points to 6.25%.
At 12:18 p.m., the S&P BSE Sensex was trading 120 points, or 0.19%, lower at 62,507.1, while the NSE Nifty 50 traded 48 points, or 0.26%, lower at 18,594.60
Among the Nifty 50 constituent, 13 stocks advanced and 37 stocks declined.
Bajaj Finserv Ltd., NTPC Ltd., HCL Technologies Ltd., Hero MotoCorp Ltd. and Tata Motors Ltd. were the top Nifty 50 laggards.
While BPCL Ltd., Hindustan Unilever Ltd.,Larsen and Toubro Ltd., Asian Paints Ltd., and ITC Ltd. gained the most.
The broader indices mirrored their larger peers, with the mid-cap and small-cap gauges losing 0.26% and 0.31%, respectively.
Thirteen of the 20 sectoral indices compiled by BSE Ltd. declined with S&P BSE Realty losing over 0.95%.
The market breadth is skewed in favour of the bears. About 1,503 stocks rose, 1,862 fell and 138 stocks remained unchanged.