The markets plummeted on Thursday morning when the Monetary Policy Committee slowed down on the repo rate hike to 30 basis points from 50 bps . The counting of votes in assembly elections in Gujarat and Himachal Pradesh is ongoing .
Mumbai (Maharashtra), December 7 : The markets plummeted on Thursday morning when the Monetary Policy Committee slowed down on the repo rate hike to 30 basis points from 50 bps.The stocks in the domestic markets dropped for the fourth straight session up until yesterday.The counting of votes in assembly elections in Gujarat and Himachal Pradesh is ongoing, which may have an effect on investors' sentiments today.BSE nsex>Sensex was down 32 points at 62,443.67, and the NSE Nifty was flat with 1.15 points up at 18,561.65 levels.Even if the BSE 30-share index was up 8.42 percent, GSFC gained 3.7 percent, and Sharda Crop gained 6.2 percent.Bharatiya Janata Party (BJP) has a strong platform to gain traction in Gujarat, and in Himachal Pradesh, there is fierce rivalry between the two groups.
In European markets, the Dow Jones Industrial Average and the CAC 40 Index were all up during the morning trade on Thursday.The Dow Jones Industrial Average and the CAC 40 Index were all up during the morning trading session, as traders sold stocks after the Reserve Bank of India (RBI) hike.The S&P BSE nsex>Sensex barometer index dropped 215.68 points to 62,410.68.On Wednesday, foreign portfolio investors (FPIs) sold shares worth Rs 1,241.87 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 388.85 crore in the Indian equity market, according to provisional data from the RBI.