Sensex closes 192 points lower post RBI policy

Mumbai, Apr 4 The BSE Sensex shut 192 points lower Thursday after the RBI lowered GDP development forecast for 2019-20 and kept its monetary policy stance 'neutral' amid uncertainty over monsoon.

In its first every other month policy review for this financial year, the central bank cut the key interest rate by 0.25 percent for the second time in a row.

After an unstable session, the 30-share Sensex record settled 192.40 points, or 0.49 percent, lower at 38,684.72.

In comparable development, the more extensive NSE Nifty slipped underneath the 11,600 imprint, finishing 45.95 points, or 0.39 percent, down at 11,598.

TCS was the greatest failure in the Sensex pack, sliding 3.17 percent, trailed by HCL Tech, Yes Bank, IndusInd Bank, RIL, ICICI Bank, Infosys, Tata Steel, Kotak Bank and L&T, down up to 2.34 percent.

On the other hand, Tata Motors, Hero MotoCorp, Bharti Airtel, HDFC, Asian Paints, Vedanta and Sun Pharma were among the top gainers, rising up to 2.49 percent.

Sectorally, BSE IT, vitality and oil and gas files endured most misfortunes, shedding up to 1.53 percent.

Rate-sensitive stocks ended on a mixed note, with the BSE auto and realty files finishing off with the green with additions of up to 0.61 percent. BSE bankex, be that as it may, finished 0.67 percent lower.

Broader indices too ended in the red, with the BSE Midcap and Smallcap slipping up to 0.32 per cent.

"Investors turned mindful about the descending amendment in GDP development to 7.2 percent for FY20 while premium valuation and worries over rainstorm further affected the feeling," said Vinod Nair, Head of Research, Geojit Financial Services.

While trying to impel economy in front of the general races, the Reserve Bank of India (RBI) Thursday brought down the benchmark loan fee by 0.25 percent for the second time in succession to the least dimension in one year on mellowing expansion.

The central bank, in any case, kept its fiscal arrangement position 'nonpartisan' over vulnerability over rainstorm, and furthermore brought down the (GDP) development conjecture for 2019-20 to 7.2 percent from 7.4 percent anticipated in the February approach.

Foreign institutional investors (FIIs) pulled out Rs 1,040.48 crore Wednesday, and residential institutional speculators (DIIs) sold equities to the tune of Rs 80.83 crore, provisional data available with stock exchanges showed.

In Asia, Korea's Kospi rose 0.15 percent, Japan's Nikkei crept up 0.05 percent and Shanghai Composite Index increased 0.94 percent. Hong Kong's Hang Seng declined 0.17 percent.

In Europe, Frankfurt's DAX was down 0.03 percent, Paris CAC 40 fell 0.31 percent, while London's FTSE slipped 0.57 percent in early arrangements.

The benchmark Brent crude futures fell 0.39 per cent to USD 69.04 per barrel.

Meanwhile, the rupee depreciated 63 paise to 69.04 against the US dollar intra-day.