Stock market LIVE updates: The key benchmark indices continued to exhibit volatility on Thursday amid subdued global cues on soaring inflation and rising interest rates.
Domestic investors were digesting the possibility of more interest rate hikes in the current fiscal after the RBI delivered a 50 bps hike on Wednesday.
Also read: Rising interest rates could weigh on valuations of Indian stock markets
The BSE Sensex and Nifty50 benhchmarks were off day’s low, hovering around the flatline, at 54,850 and 16,330 levels, respectively.
In the broader markets, the BSE MidCap and SmallCap indices were also in the negative territory, down up to 0.3 per cent.
RBI policy: Missing inflation mandate now a ‘fait accompli’
Sectorally, barring pharma and oil & gas pockets on the Nifty, all other indices were weak. Nifty IT, realty, banks, financials and auto were muted while metals and PSBs sank 1 per cent each.
Among stocks, Oil India hit an over seven-year high of Rs 302.80 as it rallied 8 per cent on the BSE, on the back of strong outlook based on increase in crude price and domestic gas price realisations. Read more
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