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MARKETS: Sensex drops 1,300 pts as RBI ups rate by 40 bps; yield spikes 4%
Stock market live updates: Among the index heavyweights, Reliance Industries, Bajaj twins and HDFC Bank were the major draggers.
Topics
MARKET LIVE | Markets | Nifty
SI Reporter |
Last Updated at May 4, 2022 15:26 IST
EVENT HIGHLIGHTS
Stock market live updates: The key benchmark indices extended losses in late noon deals after the RBI raised repo rates by 40 basis points to 4.40 per cent. The BSE Sensex plunged over 1,300 points to 56,120-odd levels, and the Nifty50 slipped below 16,700, down by 400 points.
In an unscheduled address, RBI Governor Shaktikanta Das announced that the monetary policy committee has unanimously voted to increase the repo rate by 40 bps, adding that the central bank's stance remains accommodative.
In an unscheduled address, RBI Governor Shaktikanta Das announced that the monetary policy committee has unanimously voted to increase the repo rate by 40 bps, adding that the central bank's stance remains accommodative.
Among the Sensex 30 stocks, the Bajaj twins (Bajaj Finserv and Bajaj Finance), Reliance Industries, Titan, Hindustan Unilever, HDFC Bank, Sun Pharma, Dr.Reddy's and Bharti Airtel were the major losers. PowerGrid and NTPC, however, held gains.
Sectorally, the BSE Consumer Durables index plunged 2.7 per cent, and the Healthcare index too was down over 2 per cent. The . metals, power, realty, auto, Bankex and Capital Goods indices were also down over a per cent.
Sectorally, the BSE Consumer Durables index plunged 2.7 per cent, and the Healthcare index too was down over 2 per cent. The . metals, power, realty, auto, Bankex and Capital Goods indices were also down over a per cent.
LIC IPO day 1-subscription
As of 13:15 pm, the mega-IPO of Life Insurance Corporation of India had been subscribed 36 per cent, with the policyholder and employee categories seeing highest subscription at 1.24 times and 64 per cent, respectively. The retail quota had received bids for up to 39 per cent. Moreover, the offer period between May 4 and May 9 will be open for bidding on Saturday, May 7, as well.
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