Opening bell: Nifty and Sensex plummet ahead of the RBI’s announcement of the repo rate

NEW DELHI: Friday’s opening trading saw a decrease in the Sensex and Nifty equity benchmark indexes ahead of the RBI’s announcement of the repo rate after the MPC meeting.
In early trading, the BSE Sensex dropped 179 points to 74,048 while the Nifty dropped 70 points to hover at 22,440.

The Sensex saw declines from Bajaj Finance, Titan, Maruti Suzuki, Tech Mahindra, and Axis Bank, while gains were seen from Nestle India, NTPC, Power Grid Corporation, HDFC Bank, and Mahindra & Mahindra.

Thursday saw new highs for both the Sensex and Nifty, driven by IT and banking companies.
On Thursday, the Nifty touched 22,514 after surging 80.00 points, while the Sensex surged to 74,227.63 after rising 350.81 points.
The BSE SmallCap index increased by 0.1%, whereas the BSE MidCap index was unchanged.
On Thursday, 19 of the Nifty’s equities finished the day in the red, while 31 saw gains. Twenty stocks on the Sensex closed in the green while the others fell.
SBI, Bharti Airtel, Power Grid Corporation, JSW, and ITC ended up in the red, while HDFC Bank, Titan, Tech Mahindra, Asian Paints, and TCS were among the top gainers on the Sensex.
BSE Midcap fell marginally by 0.11%, SmallCap increased by 0.54%, and LargeCap increased by 0.34%.
After consumer durables, which increased almost as much as IT, IT increased by 0.9%. Financial services increased by 0.7% and utilities gained by 0.8%.
Tech, auto, and bankex all improved by 0.3%, 0.5%, and 0.6%, respectively. However, the loss on oil and gas was 1.6%, the loss on energy was 1%, and the loss on services was 0.6%.