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Mumbai: The BSE Sensex tumbled for the fourth session on the trot on Wednesday after the Reserve Bank raised the key interest rate by 35 basis points and lowered the country’s GDP growth forecast to 6.8 per cent for the current fiscal due to continued geopolitical tensions and tightening of global financial conditions.
The 30-share BSE benchmark ended 215.68 points or 0.34 per cent lower at 62,410.68. Similarly, the broader Nifty fell 82.25 points or 0.44 per cent to 18,560.50.
NTPC was the top loser in the Sensex pack, shedding 2 per cent, followed by Bajaj Finserv, IndusInd Bank, Tata Steel, Reliance Industries, Sun Pharma, HCL Tech and Wipro.
On the other hand, Asian Paints, HUL, L&T, Axis Bank, ITC and M&M were among the gainers, climbing up to 2.10 per cent.
Sector-wise, interest rate sensitive BSE realty, consumer durables and auto indices closed up to 1.11 per cent lower.
The Reserve Bank on Wednesday expectedly raised the benchmark lending rate by 35 basis points (bps) — the fifth increase since May — saying it remains focussed on bringing down the inflation to a tolerable limit.
In the broader markets, BSE smallcap and midcap indices lost up to 0.44 per cent.
Meanwhile, international oil benchmark Brent crude declined 1.56 per cent to $78.11 per barrel.
The rupee pared initial losses and settled 3 paise higher at 82.47 against the US dollar.
Foreign Institutional Investors (FIIs) were net sellers in capital markets as they offloaded shares worth Rs 635.35 crore on Tuesday, according to exchange data.
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