Sensex down 116 to 74,243 as RBI keeps rates steady
Business
The stock market had a bumpy ride this Friday, with both Sensex and Nifty ending in the red.
Sensex dropped 116 points to 74,243, and Nifty closed below 23,400.
This slide came even though the RBI kept interest rates steady and took steps to make it easier for foreign money to flow into India.
RBI cuts FY27 GDP to 6.5%
What really spooked investors was the RBI lowering its GDP growth forecast for fiscal 2027 from 6.9% to 6.5%.
That news overshadowed any good vibes from stable rates or new capital inflow policies.
IT and metal stocks dragged things down further, but financial stocks like Axis Bank managed some gains, so not all sectors had a bad day.