Sensex Ends 215 Points Lower, Nifty Settles At 16238 After RBI's MPC Outcome

After starting on a flat note in Friday's session (August 6, 2021), Indian equity benchmarks towards the close were trading lower, dragged by realty, pharma and media indices. At the close, Nifty shed 56 points to close at 16,238, while Sensex ended 0.4% or 215 points lower at 54,277. Broader markets however gained by a margin, with Nifty Midcap up almost 0.07%.

Sensex Ends 215 Points Lower, Nifty Settles At 16238 After RBI's MPC Outcome

On a weekly basis, it was a milestone week with both Nifty and Sensex registered record highs.

The RBI in its third bi-monthly monetary policy outcome today kept key policy rates unchanged at 4 percent and also continued with 'Accommodative' policy stance. After the outcome, there was witnessed buying in the rate sensitive auto pack and financials, with Nifty Auto, Nifty PSU Bank and Nifty Private Bank all ending in the green.

Top Nifty gainers in trade today include stocks like IndusInd Bank, Adani Ports, IOC, Tata Consumer Products and Bharti Airtel, while top laggards during the session were Cipla, Reliance, Shree Cements,Ultra Tech Cement and SBI

Heavyweights like Reliance Industries declined after the SC gave its verdict in favour of Amazon in its ongoing case against Future Retail. The Supreme Court rules that the order of Singapore emergency arbitrator that stopped the deal between Reliance and Future Retail is enforceable in India. Shares of RIL ended down by over 2% at Rs. 2088.2 per share.

Muthoot Finance shares declined sharply after its q1FY22 results. The company's standalone profit after tax came in at Rs. 971.1 crore, while standalone revenue was at Rs. 2713 crore.

Rupee was largely seen trading flat at 74.15 per dollar amid volatile equities.

Meanwhile, European markets were seen trading in the green, with gains of up to 0.20 percent on German DAX.

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