Sensex drops 312 points on selling in consumption stocks ahead of RBI policy
The Hindu
Stock markets close lower as investors turn cautious ahead of RBI's monetary policy decision amid trade war concerns.
Taking a breather after recent rally, stock markets closed lower on Wednesday (February 5, 2025) as investors turned cautious ahead of the RBI’s monetary policy decision later this week and trade war concerns.
The 30-share BSE Sensex declined 312.53 points or 0.40% to settle at 78,271.28 with 21 of constituents closing down and nine with gains. During the day, it went lower by 367.56 points or 0.46% to 78,216.25.
The NSE Nifty dropped 42.95 points or 0.18% to 23,696.30. The index moved between a high of 23,807.30 and a low of 23,680.45 during the day.
Profit-taking after Tuesday’s (Feb. 4) rally and the rupee plunging to record low levels also hit market sentiment. Sensex had jumped 1,397.07 points and Nifty soared 378.20 points to settle at one-month highs on Tuesday (Feb. 4) following firm global trends.
From the 30-share Sensex pack, Asian Paints dropped over 3% after the firm reported a 23.5% decline in consolidated net profit at ₹1,128.43 crore for the third quarter ended December 2024 amid downtrading due to muted demand and weak festive season.
Titan, Nestle, Hindustan Unilever, State Bank of India, Larsen & Toubro, ITC, Zomato and Bajaj Finserv were also among the laggards.
Adani Ports, IndusInd Bank, Tata Motors and HDFC Bank were among the major gainers.
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