Share Market Update: Sensex ends 433 points lower, Nifty at 11,174; BPCL declines over 3%
businesstoday.in | Updated Oct 04, 2019, 4:25 PM IST
Share Market Update: Benchmark Sensex and Nifty fell to bearish territory and closed 1.15% lower each on Friday as the RBI in its monetary policy outcome passed a 25 bps repo rate cut. Sensex closed 433 points lower at 37,673 level and Nifty ended 139 points lower at 11,174. Sectorally except IT, all the major industry indices ended the day's trade in red, with highest losses registered in the banking and media scrips.
Equity benchmark BSE Sensex jumped over 250 points in early trade on Friday, driven by gains in banking and financial stocks ahead of the Reserve Bank's bi-monthly policy review.
On Thursday, benchmark indices Sensex and Nifty closed on a negative note amid weak global equities. While Sensex ended 198 points lower at 38,106, Nifty50 closed 42 points lower at 11,313 mark.
Mid cap and small cap indices were trading 25 points and 20 points higher in early trade.
IT and banking stocks led the gains with their indices rising 127 points and 177 points, respectively. 
The Indian rupee appreciated by 9 paise to 70.78 against the US dollar in early trade on Friday ahead of the Reserve Bank of India's monetary policy decision.
Brent crude futures, the global oil benchmark, rose 0.36 per cent to trade at USD 57.92 per barrel.
The Reserve Bank’s Monetary Policy Committee (MPC) is expected to announce the rate cut since February on October 4. In the August policy, MPC had cut repo rates by 35 bps to 5.4 percent.
NTPC on Thursday said with operationalisation of two units of 1320-mw, it's installed capacity has touched 57016 mw.
Except FMCG and media, all the other indices are trading in the bullish territory. Highest gains are seen in PSU Bank, gaining at 1.25 %, followed by 0.80% gain in CPSE, 0.70% in Auto, and IT and 0.55% gain in metal and financial indices.
Crisis-hit YES Bank on Thursday said that its group president and former has resigned. The announcement was made by the CEO of the YES Bank Group, Ravneet Gill, during a conference call with investors and analysts following a heavy fall in the bank's share price over the past few sessions.
Elsewhere in Asia, bourses in Hong Kong, Korea and Japan were trading on a weak note, as investors await US jobs data scheduled to be released later in the day, after a series of weak figures this week, which triggered concerns over the global economy.
The offer for sale of Indian Railway Catering and Tourism Corporation (IRCTC) has received overwhelming response from investors. The Rs 645cr public issue has been oversubscribed more than 111 times.
The Prime Minister's Office on yesterday held a meeting of secretaries to discuss the draft national logistics policy, which aims at promoting seamless movement of goods across the country and reducing high transaction cost of traders, an official said.
RBI cuts repo rate by 25 basis points, from 5.40% to 5.15%. Reverse repo rate adjusted to 4.90% and bank rate at 5.40 %, accordingly. 
In CPSE, that traded 80% up, Power Finance Corporation Limited gained the most, at 2.9% rise, followed by NTPC rising at 2%, ONGC at 2% gain, OIL at 1.35% gain, 1.3% gain in NBCC and 1.20% gain in BEL.
Share Market Live: Benchmark indices Sensex and Nifty turned negative after a positive start of the day as RBI in its monetary policy outcome passed a 25 bps repo rate cut.
Share Market Live: Sectorally, auto, IT, metal and pharma stocks helped in recovering gain while losses in bank, financial services, FMCG, media and realty dragged the broader indices. PSU Bank was the only sector that was trading flat. 
