Share Market Today: Sensex slips 294 points, Nifty closes below 18,650

New Delhi. There was pressure in the stock market on Thursday. In today’s business, there is a decline in realty, IT and banking stocks. Pharma, FMCG and auto stocks were under pressure. At the end of trading, the Sensex closed at 62,848.64, down 294.32 points, or 0.47 per cent. At the same time, the Nifty closed at the level of 18,634.55 with a decline of 91.85 points, or 0.49 percent.

Grasim Industries, Kotak Mahindra Bank, Sun Pharma, Tech Mahindra and Tata Consumer Products were Nifty’s top losers while NTPC, JSW Steel, ONGC, Power Grid Corp and Larsen and Toubro were Nifty’s top gainers in Thursday’s trade.

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The stock market closed with gains on Wednesday
In the previous trading session, the BSE’s 30-share index Sensex closed at 63,142.96, up 350.08 points, or 0.56 percent, while the Nifty closed at 18,730.60, up 131.60 points, or 0.71 percent.

RBI did not make any change in the repo rate
The RBI MPC, in its bi-monthly review meeting on June 8, unanimously decided to keep the repo rate unchanged at 6.5 per cent, while keeping a close watch on inflation and growth. The RBI governor said that although the inflation rate is decreasing in the country, it is still above the target. In his address, the RBI governor further said that the country’s GDP growth rate could be 7.2 per cent in FY2024, while the inflation rate could remain at 5.1 per cent during the same period.

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