FINAL TRADE: Sensex settles 308 points lower at 65,688 after RBI policy decision, Nifty ends at 19,543

Stock market today: The headline indices ended in negative territory on Thursday amid a broad-based sell-off after the Reserve Bank of India (RBI) decided to keep the repo rate unchanged at 6.5 per cent for the third consecutive time. The market will now keep an eye on the US inflation data, which will be released later in the day.

Both indices settled over 0.45 per cent lower. BSE Sensex closed at 65,688.18, down 307.63 points, and NSE Nifty settled at 19,543.1, down 89.45 points.

In the broader market, while the Nifty Mid Cap 100 ended flat, the Small Cap 100 declined nearly half a per cent. 

TECHNICAL VIEW 

"Until the Nifty trades below the zone, 19,630 – 19,670, we can expect the pressure to persist. The momentum set up on the daily and hourly time frame charts is providing divergent signals, which can lead to consolidation in the short term. Overall, the trend is still negative, and we expect the Nifty to target levels of 19,100 from a short-term perspective," said Jatin Gedia – Technical Research Analyst at Sharekhan by BNP Paribas.

GAINERS and LOSERS

Among the 50 stocks in the basket, 18 advanced while 32 declined. Asian Paints, Kotak Mahindra Bank, Britannia, ITC, and Nestle India were the top laggards.

Meanwhile, Adani Enterprises, Adani Ports, IndusInd Bank, Titan, and ONGC were the top gainers.

BUZZING STOCKS

Zee Entertainment stock closed nearly 18 per cent higher at Rs 285.55 apiece after NCLT gave approval to the Sony-Zee merger.

Pidilite reported an in-line set of earnings; the stock declined over 3 per cent at close.

Paints stocks remain under pressure from rising competition; Asian Paints slipped 3 per cent and was the top loser on the Nifty.

The RBI's move to raise the inflation estimate negatively affected FMCG stocks; ITC and Britannia were down 2 per cent each.

Barring IndusInd Bank and SBI, all bank stocks closed the session with cuts, Kotak Mahindra Bank was the top loser on the Nifty Bank.

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