Equity indices treaded lower on Friday, weighed by banking, energy and FMCG stocks, after the RBI left interest rates unchanged but slashed the GDP growth estimate for this fiscal following the second wave of Covid-19.
Lacklustre global cues and a weak rupee also soured risk appetite, traders said.
The 30-share BSE Sensex ended 132.38 points or 0.25 per cent lower at 52,100.05, a day after closing at its lifetime peak. On similar lines, the broader NSE Nifty slipped 20.10 points or 0.13 per cent to finish at 15,670.25.
Nestle India was the top laggard in the Sensex pack, declining 1.97 per cent, followed by SBI, HDFC Bank, ICICI Bank, Axis Bank, Titan, HUL and Reliance Industries.
On the other hand, Bajaj Finserv, ONGC, L&T, Bajaj Finance and HDFC were among the gainers, climbing up to 2.53 per cent.
During the week, the Sensex rallied 677.17 points or 1.31 per cent, while the Nifty soared 234.60 points or 1.51 per cent.
The Reserve Bank of India (RBI) on Friday left the key interest rates unchanged at record lows as it reiterated its commitment to keep its monetary policy accommodative to help the economy recover from the world’s worst outbreak of COVID-19 infections.
It also lowered its forecast for the country’s economic growth to 9.5 per cent for the current financial year ending March 31, 2022, from the previous estimate of 10.5 per cent.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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First Published: Fri, June 04 2021. 22:19 IST
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