Equity indices open in red, Sensex down by 186 points

Indian stock markets' key indices, Sensex and Nifty, opened with minor cuts on Thursday amid subdued global sentiment.

The 30 stock S&P BSE Sensex was trading 186.05 points or 0.34 per cent down at 54,706.44 points at 9.38 am.

The broader Nifty 50 of the National Stock Exchange was trading 52.50 points or 0.32 per cent down at 16,303.80 points.

MRPL rose 3.50 per cent to Rs 121.55, Raymond rose 30.20 per cent to Rs 1,008.90, Blissgvs, Biocon, and JKIL were among the major Sensex gainers.

PhoenixLTD, Deepakni, EmamiLTD, Dwarkesh, and MotilalOFS were among the major Sensex losers.

Meanwhile, the Reserve Bank of India (RBI) Reserve Bank of India (RBI) on Wednesday announced an increase in the policy repo rate by 50 basis points to 4.9 per cent, the second hike in five weeks aimed at quelling the inflation.

The Monetary Policy Committee (MPC) vote was unanimous and has decided to keep stance withdrawal from accommodative, RBI Governor Shaktikanta Das said in a press conference today.

Consequently, the RBI Governor said that the standing deposit facility - the SDF rate - stands adjusted to 4.65 per cent and the marginal standing facility - MSF rate and bank rate - to 5.15 per cent.

With the assumption of a normal monsoon, in 2022 and an average crude oil price in the Indian basket of 105 dollars per barrel, the RBI has projected inflation at 6.7 per cent in 2022-23.

(ANI)

Also Read: RBI retains GDP growth at 7.2 pc, inflation projected at 6.7 pc for FY 2022-23