While maintaining its withdrawal of accommodation stance, RBI Governor Shaktikanta Das also highlighted that the inflation rate was persistently high above the RBIs comfort range of 4%. On D-Street, while the Nifty PSU Bank index was trading about 3% higher led by SBI, Nifty Bank and Nifty Auto fell about 1% each. Kotak Mahindra Bank, ICICI Bank, and Axis Bank led the downside with a dip of 2% each. Among auto stocks, Eicher Motors, Maruti Suzuki, and Sona Comstar fell 2% each.
According to a report, entities failing to meet the beneficial ownership standards won t be able to make fresh purchases of Indian stocks and must liquidate their holdings within 180 days, starting from February 1, 2024
Stock market today: The Nifty 50 closed with a deep cut of 333 points, or 1.54 per cent, at 21,238.80 while the Sensex suffered a loss of 1,053 points, or 1.47 per cent, to settle at 70,370.55.