Sensex, Nifty Pares Some Early Losses; RBI Holds Rate, Slightly Raises Growth Forecast
(RTTNews) - Indian shares are languishing in negative territory around mid morning on Friday, struggling for support after opening on a weak note. The Reserve Bank of India, which has held the repo rate at 5.25%, projected a GDP growth of 6.9% and 7% for the first and second quarter respectively, while revising upward its FY26 inflation forecast to 2.1%.
Technology, banking, automobile and healthcare stocks are among the notable losers. Realty, consumer durables and metal stocks are weak as well.
The benchmark BSE Sensex, which dropped to 82,925.34, has recovered to 83,161.78, but remains weak with a loss of 152.15 points or 0.18%. The National Stock Exchange's Nifty50 is down 68.70 points or 0.27% at 25,574.10, coming off a low of 25,491.90.
Tata Consultancy Services, down 2.5%, is the biggest loser in the Sensex. Tech Mahindra, Trent, State Bank of India, Adani Ports, Infosys, Eternal and Asian Paints are down 1.3%-2%.
BEL, NTPC, Tata Steel, Indigo, HCL Technologies and HDFC Bank are also notably lower.
Trent, Shriram Finance, Max Health, Apollo Hospitals Enterprises, SBI Life, HDFC Life, Cipla, Grasim Industries and Jio Financial Services are weak as well.
ITC has climbed up 2.3% and Kotak Bank is gaining 1.2%, while Bajaj Finance and Power Grid are up nearly 1%.
Bharti Airtel is up 1.3% after reporting a 19.6% year-on-year growth in revenue, supported by robust performance across India and Africa. However, the company's third-quarter net profit dropped 55% YoY to Rs 6,630 crore.
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