Sensex, Nifty updates on 08 February 2024: Indian benchmark indices, Sensex and Nifty, witnessed a decline on Thursday driven by rate-sensitive sectors following the Reserve Bank of India’s (RBI) decision to maintain its key interest rate for the sixth consecutive meeting. At 3:48 pm, the BSE Sensex fell 723.57 points or 1% to 71,428.43 and the NSE Nifty dropped 212.55 points or 0.97% to 21,717.95. Both indexes initially showed slight gains but turned negative post the RBI’s announcement. The RBI’s Monetary Policy Committee chose to keep the repo rate unchanged amid persistently high inflation above the central bank’s 4% target. RBI Governor Shaktikanta Das emphasised the need for an actively disinflationary monetary policy stance, while Nikhil Gupta, Chief Economist at MOFSL Group, highlighted the importance of achieving the 4% inflation target despite forecasted GDP growth.
Reference Link:- https://www.thehindubusinessline.com/markets/stock-market-highlights-8-february-2024/article67821745.ece