Domestic bourses continued to trade lower during the noon trading session after RBI Governor Shaktikanta Das said the GDP growth in FY21 is expected to be in negative territory.
Besides, the Reserve Bank of India (RBI) also slashed repo rate by 40 basis points (bps) to 4 per cent and maintained the stance 'accomodative'. Consequently, reverse repo rate now stands at 3.35 per cent from 3.75 per cent earlier.
At 12:50 hours, the 30-share benchmark index was trading at 30528.26 down by -404.64 points or by -1.31 % and then NSE Nifty was at 9005.4 down by -100.85 points or by -1.11 %.
Sensex touched intraday high of 31107.91 and intraday low of 30474.88 The NSE Nifty touched intraday high of 9149.6 and intraday low of 8968.55
The top gainers of the BSE Sensex pack were Infosys Ltd. (Rs. 689.35,+2.58%), Asian Paints Ltd. (Rs. 1613.60,+2.45%), Tata Consultancy Services Ltd. (Rs. 2008.95,+0.87%), Mahindra & Mahindra Ltd. (Rs. 523.90,+0.77%), UltraTech Cement Ltd. (Rs. 3582.05,+0.32%), among others.
The top losers of the BSE Sensex pack were Bajaj Finance Ltd. (Rs. 1877.80,-5.58%), Housing Development Finance Corporation Ltd. (Rs. 1512.50,-5.25%), ICICI Bank Ltd. (Rs. 288.85,-5.09%), Axis Bank Ltd. (Rs. 340.05,-4.83%), IndusInd Bank Ltd. (Rs. 334.65,-3.55%), among others.
Among the sectors, TECk index was at 7223.49 up by 74.56 points or by 1.04%. Tejas Networks Ltd. (Rs. 31.35,+4.85%), Zee Entertainment Enterprises Ltd. (Rs. 158.10,+2.86%), Infosys Ltd. (Rs. 689.35,+2.58%), Bharti Infratel Ltd. (Rs. 209.65,+1.85%), MindTree Ltd. (Rs. 897.05,+1.71%),.
Bankex index was at 19794.91 down by -611.71 points or by -3%. ICICI Bank Ltd. (Rs. 288.85,-5.09%), Axis Bank Ltd. (Rs. 340.05,-4.83%), RBL Bank Ltd. (Rs. 107.10,-4.33%), Federal Bank Ltd. (Rs. 37.70,-4.19%), IndusInd Bank Ltd. (Rs. 334.65,-3.55%),.
The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2314 , shares advanced were 851 while 1308 shares declined and 155 were unchanged.