The domestic equity markets closed Wednesday’s trade lower tracking negative global cues, along with heavy selling pressure across all sectors barring the IT index. The benchmark domestic stock market indices extended their decline today after the Reserve Bank of India (RBI) maintained its calibrated tightening stance. The BSE Sensex closed Wednesday’s trade lower by 250 points at 35,884.41 points, while the Nifty ended at 10,784.95 points, down 84.55 points or 0.74%.
The RBI, in its December MPC meet today, kept the repo rate unchanged at 6.5% and maintained the ‘calibrated tightening’ stance. Following the development, the BSE Sensex dropped nearly 350 points to a low of 35,777.81 points, while the NSE Nifty tanked to the 10,750-level.
Asian stocks slid on Wednesday, dragged down by Wall Street’s tumble as sharp declines in long-term U.S. Treasury yields and resurgent trade concerns stoked investor worries about global economic growth, said a Reuters report. Oil prices fell, weighed down by swelling U.S. inventories and concerns that slowing economic activity will sap demand for commodities. U.S. crude futures were down 1.7% at $52.35 per barrel and Brent shed 1.75% to $61.00 per barrel, it added.