After RBI Action, Kotak Bank Shares Stumble Nearly 10%; Markets Start In Red

The Indian markets opened in Red on Thursday, with Sensex at 73,663.35, down by 189.59 points, and Nifty at 22,345.40, down by 57.00 points.

Nifty Bank in the morning session was trading low at 47,999.75 also down by 189.25  points.

From the Sensex pack, Kotak bank after the RBI action has seen its numbers take a nose dive, with 9.16 per cent drop in its value. In addition, Axis Bank, HCL and Sun Pharma were among the major gainers in the morning session.

The Indian rupee opened at 83.35 against the dollar, losing 0.0089 per cent of its value.

Markets on Wednesday 

The stock markets ended Wednesday on a higher note as both the BSE Sensex and the NSE Nifty closed in the green.

The 30-share BSE Sensex closed the day at 73,852.94, up by 114.49 points or 0.16 per cent. Similarly, the NSE Nifty ended positively at 22,413.05, up by 45.05 points or 0.2 per cent.

Moreover, the Nifty Bank gained 229.35 points or 0.48 per cent to settle at 48,199.80.

Top Gainers and Losers -BSE and NSE

From the Sensex pack, JSW Steel, Tata Steel, PowerGrid, Kotak Bank, and NTPC emerged as the major gainers, while Tech Mahindra, TCS, Maruti, Reliance, and Infosys suffered losses.

In the Nifty pack, Hindalco, JSW Steel, Cipla, Tata Steel, and PowerGrid led the gains, while Tata Consumer, HDFC Life, Grasim, Bajaj Auto, and Tech Mahindra were among the laggards.

Energy and International Markets

U.S. West Texas Intermediate crude (WTI) decreased by USD 0.08 to USD 82.73 a barrel at 0643 IST. Brent crude prices also decreased by USD 0.05 to USD 87.97 a barrel at 0643 IST.

On Wednesday both S&P 500 and Nasdaq saw a collective rise in their numbers, meanwhile, Dow Jones Industrial Average saw a slump.

The S&P 500 closed at 5,071.63 gaining 1.08 points or 0.02 per cent. The Dow Jones Industrial Average ended at 38,460.92 losing 42.77 points or 0.11 per cent.

Additionally, the Nasdaq Composite saw a rise of 16.11 points or 1.11 per cent to reach 15,712.75.

The Asian indices started in a Mix, while Japan's Nikkei 225 index lost 1.72 per cent to reach 37,796.68, at the opening of the day's trade, Hong Kong’s Hang Seng index surged 0.99 per cent to climb to 17,371.39 points. South Korea’s KOSPI observed a slump, as it decreased by 0.94 per cent to reach 2,650.47.