Stock Market Highlights: Sensex, Nifty End Flat; NBFCs, Banks Rally On RBI's Risk Weight Reduction
The NSE Nifty 50 ended 2.50 points, or 0.01% lower at 22,545.05, while the BSE Sensex closed 10.31 points or 0.01% higher at 74,612.43.
Benchmark indices ended Thursday's session flat, with the media and realty sectors declining the most, while finance emerged as a top sectoral gainer, followed by metal. On Tuesday, the markets had closed on a mixed note, following five consecutive session of losses.
Shares of banks and non-banking financial companies soared the most on Thursday, after Reserve Bank of India decided to lower the risk weights on bank loans to non-banking financial companies.
On Tuesday, the central bank announced a reduction in risk weights on bank loans to NBFCs from 125% to 100%, effective April 1. This move reverses the risk weight increase that was implemented in November 2023, offering much-needed relief to NBFCs.
Shares of Shriram Finance Ltd. and Bajaj Finserv Ltd. were the top gainers during the day's trade, while UltraTech Cement Ltd. and Trent Ltd. were the top laggards.
UltraTech Cement was the worst performer in the day's trade after it announced its foray into wires and cables business.
The NSE Nifty 50 ended 2.50 points, or 0.01% lower at 22,545.05, while the BSE Sensex closed 10.31 points or 0.01% higher at 74,612.43.
The Indian Rupee closed flat at 87.20 against the US Dollar on Thursday, maintaining its previous level without significant movement.
Shares of Shriram Finance Ltd., Bajaj Finserv Ltd., Bajaj Finance Ltd., Hindalco Ltd. and Sun Pharma Ltd. cushioned the fall in the Nifty 50.
While those of UltraTech Cement, Bajaj Auto Ltd., Trent Ltd., Tata Motors Ltd. and Hero MotoCorp Ltd. weighed the index.
On NSE, three of the 12 sectors advanced, and nine declined. Nifty Media and Nifty Realty fell the most, and the Nifty Finance and Nifty Metal gained the most.
The broader markets slipped, with the BSE Midcap ending lower by 0.94% and the BSE Smallcap down 2.08%.
On BSE, three out of 21 sectors gained, one remained flat. The BSE Industrials and BSE Realty fell the most as they slipped 2.47% and 2.11%, respectively. BSE Metal gained the most.
Market breadth was skewed in the favour of sellers. In total, 3,013 stocks declined, 951 stocks advanced, and 100 stocks remained unchanged on the BSE.
