Business Economy


Stock Markets closed flat, remain unresponsive to RBI's pause on repo rate

New Delhi, Aug 5 (UNI) The Indian Stock Markets closed flat even after the RBI MPC decided to keep the repo rate unchanged as the indices ended largely neutral.
At close, Sensex was up by only 152.05 points or 0.19% at 78,581.00 while Nifty closed at 24,624.65, falling 9.75 or 0.04%.
The overall market capitalisation of BSE-listed firms rose to Rs 492 lakh crore from Rs 489.5 lakh crore in the previous session.
On Nifty, the top gainers were Shriram Finance, Grasim Industries, JSW Steel, Hindalco Industries, and NTPC rising 2-3% while the losers were TCS, Apollo Hospitals Enterprise, HCL Technologies, Sun Pharma, and Jio Financial Services.
Among the sectors, the gainers were Nifty Metal (up 1.72%), Auto (up 1.27%), Realty (up 0.84%), and PSU Bank (up 0.72%) while the losers were Nifty Media lost 1.58%, ending as the top loser among sectoral indices, and Nifty Bank declined 0.29%.
In terms of individual performers, Hindustan Copper emerged as the top gainer, surging 8.3%, Engineers India witnessed renewed buying interest, climbing 7%, and metal stocks, Hindustan Zinc, GMDC, and Vedanta advanced more than 3% each.
Vinod Nair, Head of Research, Geojit Investments Limited said, "The RBI's MPC has maintained the status quo while marginally upgrading FY27 GDP growth projection, citing a resilient domestic economy. Additionally, annual inflation estimates were lowered, indicating the governor’s open minded approach, which suggested an optimistic view though further policy action would depend on data. Consequently, a rise in crude prices following renewed concerns over escalating tensions in West Asia, led Indian markets, which had opened strongly, to gradually move lower during the course of the session. Defying the broader market trend, realty and auto stocks outperformed on strong demand expectations ahead of festive season and supportive financing conditions, while metal stocks gained on the back of an improved GDP growth outlook and robust domestic demand."UNI VK AAB
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