Stock Market LIVE: Sensex down 300 pts; banks, auto, real estate stocks edge lower post MPC outcome | News on Markets

Stock market LIVE updates today, Thursday, August 8, 2024: The Indian stock markets remained in the negative zone as the Reserve Bank of India’s monetary policy committee (MPC) kept the repo rate unchaged at 6.5 per cent today.

The decision was taken with a majority of 4:2. The MPC kept is stance as “withdrawal of accommodation”. The RBI projected real gross domestic product (GDP) growth rate of 7.2 per cent for the financial year 2024-25 (FY25), and CPI inflation of 4.5 per cent.

The BSE Sensex was down 466 points, near 79,000 level, while the Nifty50 fell 133 points to 24,165 levels.

On the BSE JSW Steel, Infosys, Tata Steel and L&T fell in the range of 1-2 per cent and led the losses, while the likes of ITC, Tata Motors and Titan led gains.

Similarly on NSE, Tata Motors, Cipla, ITC and Dr Reddy’s Labs were among the top five gainers, whereas Infosys, JSW Steel and ONGC were among the top losers.

The broader markets showed mixed trends, with the MidCap index falling 0.23 per cent, while the SmallCap index surged by 0.25 per cent.

Sectorally, most indices were trading lower led by the Nifty Metal, Nifty IT, and Nifty Auto indices (down up to 1 per cent). On the upside, the Nifty Media, and Pharma indices gained 0.15 per cent and 0.8 per cent, respectively.