Stock market LIVE updates today, Thursday, August 8, 2024: The Indian stock markets rebounded in the afternoon trade on Thursday amid the Reserve Bank of India’s monetary policy committee’s (MPC’s) decision to keep the repo rate unchaged at 6.5 per cent today.
The decision was taken with a majority of 4:2. The MPC kept is stance as “withdrawal of accommodation”. The RBI projected real gross domestic product (GDP) growth rate of 7.2 per cent for the financial year 2024-25 (FY25), and CPI inflation of 4.5 per cent.
The BSE Sensex, after falling over 550 points after the policy, was trading 73 points higher at 79,541 level. The Nifty50, too, was up 23 points at 24,321.
On the BSE JSW Steel, Infosys, Tata Steel and L&T fell in the range of 1-2 per cent and led the losses, while the likes of ITC, Tata Motors and Titan led gains.
Similarly on NSE, Tata Motors, Cipla, ITC and Dr Reddy’s Labs were among the top five gainers, whereas Infosys, JSW Steel and ONGC were among the top losers.
The broader BSE MidCap and SmallCap indices, however, were up 0.36 per cent and 0.76 per cent, respectively.
Sectorally, most indices were trading lower led by the Nifty Metal, Nifty IT, and Nifty Auto indices (down up to 1 per cent). On the upside, the Nifty Media, and Pharma indices gained 0.15 per cent and 0.8 per cent, respectively.
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