iifl-logo-icon 1
IIFL

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

  • Open Demat with exclusive Advice & Services
  • Get a dedicated Relationship Manager to help you grow your wealth
  • Exclusive advisory on 20+ trading & wealth-based investment options
  • One tap Investments, Automated trading & much more
  • Minimum 1 lakh margin required
sidebar image

Markets end lower on surprise RBI rate hike; Sensex ends below 56K, Nifty falls below 16,700

4 May 2022 , 05:21 PM

Equity benchmark indices on Wednesday plunged sharply after RBI’s surprise move on increasing the repo rates today an acknowledgement of inflation becoming a more important variable in policy decisions than growth. Moreover, earnings results, the Russia-Ukraine war and surging COVID-19 cases continue to remain in focus.

Reserve Bank of India (RBI) raised the repo rate by 40 basis points (bps) to 4.40 per cent in an off-cycle meeting today. Repo rate is the rate at which a central bank lends money to banks.

The 30-share BSE Sensex tanked 1,307 or 2.29 per cent to close at 55,669, while the broader NSE Nifty crashed 392 points or 2.29 per cent at 16,678. Broader markets moved largely in tandem with the main indices as Nifty MidCap and Nifty SmallCap fell 2.1% and 2.4% respectively.

All sectoral indices ended in red. Nifty Media was the biggest laggard which plummeted 4.3%, followed by Nifty Reality and Nifty Metal which were down ~3.2% each.

The overall market breadth on BSE stood negative as 864 shares were advancing while 2,508 were declining.

Bajaj Finserv, Bajaj Finance, Titan, IndusInd Bank, HDFC Bank, Reliance Industries, Asian Paints, Maruti, Dr Reddy's and Axis Bank were among the top laggards. On the flip side, PowerGrid, NTPC, and Kotak Mahindra Bank were trading in the green.

Meanwhile, LIC's initial share sale witnessed strong participation from policyholders and retail investors. The IPO is subscribed by 57 per cent on the first day of bidding. 

Related Tags

  • global markets
  • lic ipo
  • market now
  • nifty now
  • RBI policy
  • Russia Ukraine War
  • sensex now
sidebar mobile

BLOGS AND PERSONAL FINANCE

Read More
Knowledge Centerplus
Logo

Logo IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000

Logo IIFL Securities Support WhatsApp Number
+91 9892691696

Download The App Now

appapp
Knowledge Centerplus

Follow us on

facebooktwitterrssyoutubeinstagramlinkedin

2024, IIFL Securities Ltd. All Rights Reserved

ATTENTION INVESTORS
  • Prevent Unauthorized Transactions in your demat / trading account Update your Mobile Number/ email Id with your stock broker / Depository Participant. Receive information of your transactions directly from Exchanges on your mobile / email at the end of day and alerts on your registered mobile for all debits and other important transactions in your demat account directly from NSDL/ CDSL on the same day." - Issued in the interest of investors.
  • KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary.
  • No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor's account."

www.indiainfoline.com is part of the IIFL Group, a leading financial services player and a diversified NBFC. The site provides comprehensive and real time information on Indian corporates, sectors, financial markets and economy. On the site we feature industry and political leaders, entrepreneurs, and trend setters. The research, personal finance and market tutorial sections are widely followed by students, academia, corporates and investors among others.

RISK DISCLOSURE ON DERIVATIVES
  • 9 out of 10 individual traders in equity Futures and Options Segment, incurred net losses.
  • On an average, loss makers registered net trading loss close to Rs. 50,000.
  • Over and above the net trading losses incurred, loss makers expended an additional 28% of net trading losses as transaction costs.
  • Those making net trading profits, incurred between 15% to 50% of such profits as transaction cost.
Copyright © IIFL Securities Ltd. All rights Reserved.

Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248

plus
We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.

closeIcon

Get better recommendations & make better investments

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp