Share Market: Reliance shares fell after the decision in favor of Amazon, Sensex-Nifty below record high
Stock Market Updates : The market fell in early trade in the domestic stock markets after the Reserve Bank of India’s monetary policy announcement and the Supreme Court’s decision on the Reliance-Future Group deal. Today already flat business was visible in the market. Nifty had flat opening. But after the announcement of RBI and then the decision in favor of Amazon in the Supreme Court against Reliance Industries on the deal with Future Group, the stock of Reliance Industries fell drastically, after which the market started trading. The Sensex fell 348 points from its record high, while the Nifty also fell below 16,300.
The Supreme Court has stayed this deal of Reliance-Future Group. After this, there was a big fall in the shares of Reliance. At 12.45 pm, the company’s shares were down 2.06% per cent at Rs 2,090.20 per share.
At 12.36 pm, the Sensex was down by 129.68 points, or 0.24%, and the index had reached the level of 54,363.16. At the same time, during this time Nifty was trading at the level of 16,269.05 with a fall of 25.55 points or 0.16%.
Today, before the results of RBI’s monetary policy review, there was a decline in the market. RBI has not made any change in the repo rate this time as well, while maintaining a liberal stance. Key interest rates remain unchanged at 4 per cent. The reverse repo rate has also been kept unchanged at 3.35 percent. At the same time, the Marginal Standing Facility Rate and Bank Rate have been kept at 4.25 percent.
Das said that the monetary policy committee of the central bank has kept its stand ‘accommodative’ or liberal this time also. In the opening, the Sensex opened at the level of 54422.44 with a fall of 70.40 points or 0.13%. At the same time, Nifty opened at the level of 16283.50 with a flat opening with a fall of 11.10 points i.e. 0.07%. About 1066 shares jumped in the opening, while 580 shares fell.
In the early trade, out of 30 shares of BSE, 19 shares were open in the green. IndusInd Bank, M&Ms Sun Pharma and Maruti have registered the highest gains. At the same time, the biggest fall was in HCL Tech, Infosys, TCS, Dr Reddy.