Nifty Slips 0.21%, Sensex Down 117 Points After RBI Policy Announcement

On Friday, Indian equity markets slipped as investors digested the MPC’s decision and weighed ongoing global economic uncertainties.

The benchmark indices ended lower; Nifty fell 49.85 points (0.21%) to 23,366.70, while Sensex dropped 116.67 points (0.16%) to 74,243.34.

Analysts noted that the Nifty’s 23,450–23,550 zone remains a crucial immediate resistance level.

“A sustained breakout above this band could boost sentiment and pave the way for a recovery toward the 23,750–23,800 range,” said an analyst.

“On the downside, the 23,250 level acts as a key near-term support; holding above it is essential to maintain the current structure,” the analyst added.

Among individual stocks, Hindalco Industries, Wipro and Trent were the biggest losers in the Nifty.

Broader indices also slipped, with the Nifty MidCap down 0.35% and the Nifty SmallCap down 0.06%.

Sector-wise, IT and metal stocks lagged, whereas the media sector outperformed the broader market.

Market sentiment stayed cautious after the MPC voted unanimously to hold the policy repo rate at 5.25%, maintaining a neutral stance amid rising global uncertainties.

The RBI also unveiled a set of measures designed to lift foreign inflows into domestic financial markets.

These steps involve raising equity investment limits for NRIs and OCIs, and broadening the list of government securities eligible under the Fully Accessible Route (FAR).

Experts noted that investors kept their focus on policy signals and global cues, resulting in a subdued close for domestic equities.

“From a broader viewpoint, today’s price action indicates that investors see the RBI policy as a balancing act between growth and macroeconomic stability,” a market expert said.