The stock markets, which had opened in the green on rate cut hopes, tumbled after the monetary policy announcement.
Nestle India was the top loser in the Sensex pack, shedding 2.20 per cent, on its first day as part of the index.
The fall was led by banking stocks, with IndusInd Bank, Kotak Bank, Federal Bank, Axis Bank, ICICI Bank, HDFC Bank and SBI declining up to 2.36 per cent.
Higher levels could not be sustained as participants offloaded their long positions in view of September series expiry.
The BSE Midcap index has declined 5.7% thus far in May 2018. In comparison, the S&P BSE Small-cap index has lost 5.6%
Top gainers in the Sensex pack included Bajaj Finance, ONGC, Yes Bank, HDFC, HCL Tech, Tech Mahindra, TCS, ICICI Bank and RIL, rising up to 3.57 per cent.
In the Sensex pack, losers included TCS, HUL, Tata Steel, HCL Tech, Infosys, Bajaj Finance, HDFC, IndusInd Bank, Asian Paints, ITC and Vedanta, shedding up to 3.70 per cent.
Shares of all the 14 companies are currently trading above their issue price.
According to Soumya Kanti Ghosh, chief economic advisor of the State Bank of India group, a 50 bps rate cut is a possibility, but 25 bps is more likely.
If we persist in talk and little action, I think we will slip. I fear the consequences of sustained slow growth. We need strong, sustained, clever action today, Rajan said.
Both the indices closed at five-month highs, led by financial services, IT and metal stocks, amid persistent foreign fund inflows.
Among the Sensex constituents, Tata Motors was the biggest loser with 6.52 per cent fall, followed by Vedanta 5.09 per cent, Bajaj Auto 4.99 per cent, Maruti Suzuki 4.26 per cent and Tata Steel 2.65 per cent.
The payouts were 22 per cent lower than the previous year's tally of Rs 7,938 crore.
Yes Bank was the biggest gainer, rising 3.40 per cent, after ace investor Rakesh Jhunjhunwala bought approximately 1.3 crore shares of the company for around Rs 87 crore through open market transactions.
Be mindful that each instrument is governed by a different set of gifting rules and is also taxed differently.
The Nifty too slipped below the psychologically important 11,000 mark.
SBI was the biggest gainer in the Sensex pack, rallying up to 12 per cent, followed by Sun Pharma, HDFC, Tata Steel, Bajaj Finance, Maruti, ICICI Bank and Bharti Airtel.
'While growth will bounce back from the current sub-5 per cent, it will stay lower than the already inadequate long-term average of 6.6 per cent,' notes T N Ninan.
The indices closed with losses for the week, with the Sensex declining 476.14 points, and the broader NSE Nifty falling 155.45 points during the period.
Umran was a net bowler during India's last World T20 campaign in the UAE.
One must be extremely cautious while shopping with a credit card.
The biggest gainers in the Sensex pack were Sun Pharma, Bajaj Finance, Vedanta, Yes Bank, ICICI Bank, HDFC, Tata Motors, HCL Tech, IndusInd Bank and Axis Bank, rising up to 2.98 per cent.
'If one believes that the Indian stock market will go up 70 per cent every year for the next 10 years, I wish you good luck!'
Sensex ends lower; govt schemes in focus.
With this amount, the total seizure in the case has now gone upto Rs 166 crore in a single case.
Mixed global cues and decline in crude oil prices further dent the sentiments.
The seizure occurred during raids at eight premises of a group engaged in sand mining in Tamil Nadu.
The broader NSE Nifty slipped below the 10,500-mark by falling 103 points, or 0.97 per cent, at 10,482.20. It touched a high of 10,645.50 and a low of 10,464.05 during the day.
The market breadth, indicating the overall health of the market, turned negative from positive
India's services sector activities contracted further in June as the intensification of the COVID-19 crisis and reintroduction of containment measures restricted demand, a monthly survey said on Monday. The seasonally adjusted India Services Business Activity Index fell from 46.4 in May to 41.2 in June, as new work intakes and output contracted at the fastest rates since July 2020, which prompted companies to reduce employment again. Subdued demand conditions resulted in a second successive monthly drop in new business received by services firms.
"The Monetary Policy Committee recognises that there is monetary policy space for future action. However, given the evolving growth-inflation dynamics, the MPC felt it appropriate to take a pause at this juncture," the RBI said in its fifth bi-monthly monetary policy for this fiscal.
The S&P BSE 500 index, which accounts for 94% market capitalisation of BSE listed companies, has gained 45% from its March 24 low. However, out of the BSE 500 index stocks, 225 have underperformed the index by gaining less than the broader index during this period.
Sectorally, metal, auto and IT stocks were leading gainers amid sustained foreign fund inflow.
According to a communication by the ministry to the heads of PSBs, it will be a bottom-up consultative process from the branch level onwards which will involve discussions at the branch or regional level, state level and national level.
If the BJP is set to return to power in UP, Uttarakhand, Manipur and even Goa, it is not because of the party's performance or the quality of governance. No. It is essentially Modi's popularity, observes Virendra Kapoor.
Traditionally, most PSUs have been cash-rich, which added to their value. However, the government has been tapping regularly into their cash resources to boost revenue for the exchequer
The S&P BSE Sensex dipped 90 points to end at 27,747, after hitting an intra-day high of 28,014.
The accumulated interest will increase the principal and you will have to pay a higher rate. Borrowers should take the restructuring plan only after they are convinced they have exhausted all other options.
Infosys was the top gainer in the Sensex pack, rising 2.36 per cent, followed by HDFC Bank up 1.39 per cent.
India's GDP is within the striking distance of attaining positive growth, the Reserve Bank said observing that the letter "V" in the V-shaped recovery stands for vaccine. The Indian government launched the world's biggest vaccination drive on January 16 to protect people from COVID-19. "What will 2021 look like? The shape of the recovery will be V-shaped after all and the 'V' stands for vaccine," said an article on the 'state of economy' in the RBI's January Bulletin. India has launched the biggest vaccination drive in the world, backed by its comparative advantage of having the largest vaccine manufacturing capacity in the world and a rich experience of mass inoculation drives against polio and measles.
