Sensex falls nearly 300 points, slips below 74K ahead of RBI policy outcome
RBI) monetary policy decision, where the central bank is expected to maintain its key interest rate for a seventh straight meeting.
The BSE Sensex was trading 267 points or 0.36% lower at 73,960. Nifty50 was trading at 22,438, down 76 points or 0.34% at around 9.21 am.
From the Sensex pack, Tech Mahindra, JSW Steel, L&T, Tata Steel, Axis Bank, and SBI opened in the red, while Bajaj Finserv, HDFC Bank, M&M, Nestle and Kotak Bank traded with gains.
On the sectoral front, Nifty Metal fell 0.9%, while Nifty IT declined 0.5%. Nifty Bank, Auto, Media, and Oil & Gas also traded lower.
Among individual stocks, Prestige Estates Projects rose 3.5% after the company caught hold of a 21-acre land parcel in Bengaluru's Whitefield to develop a residential project at an estimated cost of Rs 4,500 crore.
Bandhan Bank surged 2.5% after the bank's loans and advances clocked Rs 1.28 lakh crore in Q4, registering an 18% growth year-on-year. The total deposits stood at Rs 1.35 lakh crore with a 25% rise year-on-year.
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