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Bank, FMCG stocks drag Sensex 150 points lower; Nifty below 19,500
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The BSE Sensex was trading 138 points or 0.21% lower at 65,549. Nifty50 was trading at 19,498, down 44 points or 0.23% at around 9.18 am.
On Thursday, the Reserve Bank of India held key rates steady as expected. Governor Shaktikanta Das said there could be a substantial rise in headline inflation in the near-term and raised the retail inflation forecast for fiscal 2024, citing pressure from food prices.
In the ongoing July-September quarter, it now sees inflation at 6.2%, significantly higher than the 5.2% earlier forecast. The RBI also asked banks to set aside a larger part of incremental deposits under the cash reserve ratio (CRR), to mop up excess liquidity.MORE TO COME...
. Read more on economictimes.indiatimes.comAbout this in other media
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