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Benchmark equity indices BSE Sensex, and NSE Nifty50 pared their early gains, and retreated to settle in negative territory on Wednesday. The Sensex shed 167.71 points, or 0.21 per cnet, to settle at 81,467.10. The index traded in the range of 82,319.21-81,342.89 levels today.
Mirroring the Sensex, the Nifty50 toned down 31.20 points, or 0.12 per cent, to 24,981.95. The index traded in the range of 25,234.05-24,947.70 on Wednesday.
Meanwhile, the Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) kept the repo rate unchanged at 6.5% for the tenth consecutive term on Wednesday. The committee, however, announced a change in its stance from ‘withdrawal of accommodation’ to ‘neutral’.
Global Cues
Meanwhile, markets in the Asia Pacific region, were down on Wednesday, with mainland China leading the loses.
Hong Kong’s Hang Seng index dragged 0.29 per cent after plummeting 9.41 per cent to close at 20,926.79 on the previous day.
Mainland China’s CSI 300 index was down 4.33 per cent, while the Shanghai Composite was down 3.68 per cent.
That apart, Japan’s Nikkei 225 was up 0.8 per cent, and the broader Topix was ahead by 0.31 per cent.
Australia’s S&P/ASX 200 was up 0.15 per cent, while South Korea’s markets remained closed for a public holiday.
On the previous day, a gauge of global stocks advanced after a rally on Wall Street overshadowed disappointment over the lack of details in China’s stimulus, as investor focus shifts to upcoming US inflation data and corporate earnings.
On Wall Street, US stocks closed sharply higher as the benchmark S&P 500 bounced back from a drop of nearly 1 per cent a day earlier, with a jump of more than 2 per cent in technology stocks providing key support.
