RIL informed exchanges on Saturday that its arm Reliance Consumer Products (RCPL) has acquired a majority stake in the Australian ‘Better-For-You’ beverage firm.
IT Stocks Suffer Worst Single Day Selloff! What Led To The Crash?
Market sentiment found some support from regulatory clarity after the RBI signalled that banks would be allowed to lend to REITs, a move seen as positive for long-term funding in the real estate and credit ecosystem, said Ponmudi R, CEO of Enrich Money.
At 12:01 pm, the BSE Sensex was up 140.35 points, or 0.17%, to 83,454.28. The NSE Nifty gained 6.05 points, or 0.02%, to 25,648.85.
RBI MPC meeting today: After the RBI maintained the status quo on the repo rate, BSE Sensex fell 342 points to 82,791 and Nifty slipped 127 points to 25,515 on Friday.
Vijayakumar said a positive market trigger in the form of an MPC rate cut is unlikely today because the MPC is expected to keep rates unchanged.
Nifty futures on the NSE International Exchange traded 95.50 points, or 0.37 per cent, up at 25,628.50, hinting at a weak start for the domestic market on Friday.
Five stocks, namely ICICI Bank, Reliance Industries (RIL), Bharti Airtel, HDFC Bank and Eternal, contributed heavily to the Sensex’s fall.
The broader market underperformed the frontline indices, with the Nifty Midcap index declining 0.71 per cent and the Nifty Smallcap index tumbling 1.58 per cent.
Vijayakumar pointed to the sharp correction in IT shares, noting that big declines in IT stocks have followed the sell-off in US technology counters, which has now spilled over into Indian markets as well.
Nifty futures on the NSE International Exchange traded 30.30 points, or 0.12 per cent, up at 25,818.50, hinting at a weak start for the domestic market on Thursday.





