Sensex Plunges 724 Points, Nifty Dips Below 21,750; SBI Climbs 4% While Nestle Dips 3%

Ira Singh
Khabar Khabaron Ki,08 Feb’24

The domestic equity benchmark indices ended lower on Thursday after the Reserve Bank of India’s monetary policy decision, where the central bank kept its key interest rate unchanged for a sixth consecutive meeting.At close, the Sensex was down 723.57 points or 1.00 percent at 71,428.43, and the Nifty was down 212.55 points or 0.97 percent at 21,717.95.About 1341 shares advanced, 1908 shares declined, and 61 shares unchanged.

Stocks and Sectors
State Bank of India, BPCL, Power Grid Corporation, TCS and HCL Technologies were the biggest gainers on the Nifty while losers included Britannia Industries, ITC, Kotak Mahindra Bank, Axis Bank and Nestle India.

On the sectoral front,auto, bank, realty, capital goods and FMCG down 0.6-2 percent, while oil & gas, power, Information Technology and PSU Bank up 0.3-2 percent.BSE midcap index ended on a flat note and smallcap index down 0.4 percent.

On 08 Feb’24,the Indian rupee 1 paisa higher at 82.95 against the US dollar after RBI monetary policy decision.

Experts Take:
Market experts have recommended nine stocks to buy for Thursday-JSW Steel, IndiaMart, HDFC Life, McDowell-N, Likhitha Infrastructure, Mrs. Bectors Food, NIIT, Chambal Fertilizer, and CDSL.