The BSE benchmark Sensex declined 132 points or 0.19% to settle at 69,521, while the NSE Nifty plunged 36 points or 0.17% to end at 20,901.
The Reserve Bank of India’s rate-setting panel, the Monetary Policy Committee (MPC), is likely to keep the repo rate unchanged at 6.5% for the fifth consecutive time, shifting its focus on liquidity tightening, according to some economists.
RBI Governor Shaktikanta Das will announce MPC’s decision regarding the key interest rates, GDP, and inflation forecast post the completion of the committee’s three-day bi-monthly meeting at 10 am on Friday.
Paytm shares plunged over 18% on the company’s plan to curtail low-value personal loans after RBI tightened consumer lending rules.
Media companies TV18 Broadcast and Network18 Media & Investments declined 6% and 8%, respectively, after announcing a $1.2 billion merger deal.
Hindustan Unilever fell about 2% after several brokerages flagged concerns over near-term earnings outlook.On the flip side, SpiceJet climbed 20% after reports said that the domestic airline will likely raise Rs 1000 crore to Rs 1,200 crore through the issue of shares.
The market capitalisation of all listed companies on BSE increased by Rs 1.32 lakh crore to Rs 350.17 lakh crore. The market breadth was skewed in favour of the bulls. About 2,208 stocks gained, 1,588 declined, and 119 remained unchanged on the BSE.