Markets Continue to Trade in Red Over LTCG Tax, Global Cues; Sensex Over 340 Points Down, Nifty Falls Over 110 Points
Mumbai, December 7: After suffering for the second straight session on Wednesday, key Indian equity domestic indices- BSE Sensex and NSE Nifty opened on a positive note during early morning trade on Thursday. Sensex zoomed 88 points or 0.27% to 32,685.69 while the wider Nifty was up by over 26 Points or 0.26% to 10,070.10. In the pre-opening session, Sensex was flat while Nifty was above 10,050. The Indian rupee opened at 64.50 per dollar on Thursday against previous close of 64.52 on Wednesday.
At 11. 30 AM: Sensex zoomed 239 points or 0.73% to 32,836.69 while the wider Nifty was up by over 77 points or 0.77% to 10,121.85 on widespread buying by participants amid positive Asian cues. All the sectoral indices led by capital goods, power, oil & gas and PSU were trading in the green with gains of up to 1.20 per cent. Also, the NSE Nifty recovered by 49.25 points or 0.49 per cent to 10,093.35.
At 10 AM: Sensex zoomed 179 Points or 0.55% to 32,776.34 while the wider Nifty was up by over 55 points or 0.55% to 10,099.35. Bitcoin surged to a record high of $14,047.40 on Thursday, continuing its surge from below $1,000 at the beginning of the year.
On Wednesday the Reserve Bank kept interest rates on hold but raised the inflation forecast. Sensex closed 205 points down or 0.63% to 32,597.18 while the wider Nifty ended low by over 74 points or 0.73% to 10,044.10 as the RBI’s Monetary Policy Committee decided to keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 6.0 per cent but has raised the inflation forecast for remainder of the current financial year to 4.3-4.7 per cent.
The six-member Monetary Policy Committee (MPC), headed by Reserve Bank Governor Urjit Patel, kept the policy rate unchanged at 6 per cent on expected lines but raised the inflation forecast for the remainder of the fiscal to 4.3-4.7 per cent on Wednesday. As per reports by PTI, the RBI kept the economic growth forecast unchanged at 6.7 per cent for the fiscal ending March 31. The 30-share index declined by 205.26 points, or 0.63 per cent, to 32,597.18 after hitting a low of 32,565.16 soon after the central bank announced its policy decision.