Indian equity indices have slipped into the red after a positive start. The Nifty and Sensex have both slipped into negative zone pulled down by ITC, power and capital goods along with Tata Group stocks.
As of 12:54 PM, Sensex is trading at 77,898.83, down by 372.41 points. On the other hand, the NSE Nifty 50 is trading at 23,584.50, down by 111.80 points. This is a significant downtrend compared to the morning rates.
The indices opened Thursday’s trading session on a green note. The NSE Nifty 50 began the session 32.20 points or 0.14 % higher at 23,728.50, while the BSE Sensex gained 215.16 points or 0.27% to start at 78,486.44. The Nifty Bank opened today’s trading session up by 125.30 points or 0.25%, trading at 50,468.35.
Rangebound trade likely ahead of RBI MPC
The Market experts anticipate a rather flat session as we have noticed since morning. The Nifty is likely to trade within a tight range as investors await the RBI’s Policy announcement on February 7.
“ With RBI policy coming tomorrow, today could be a rangebound outing with the market oscillating between support at 23528 and resistance at 23835,” said Akshay Chinchalkar, Head of Research, Axis Securities.
Market Recap: Wednesday’s Performance
The previous session saw markets end in the red. The NSE Nifty 50 slipped 43 points or 0.18% to close at 23,696.30, while the BSE Sensex dropped 312.53 points or 0.40% to settle at 78,271.28.
Gold rate today
Gold price today in India surged to Rs 84,250 per 10 grams as of 8:20 a.m. on February 6, according to Goodreturns.
The 22 carat gold rate today stands at Rs 79,060 per 10 grams, while the 24 carat gold rate today is Rs 86,250 per 10 grams. The 1 gram gold rate today is Rs 7,906 for 22 kt and Rs 8,625 for 24 kt. Meanwhile, the 18 carat gold rate today is Rs 6,469 per gram.
On the Multi Commodity Exchange (MCX), gold futures for February 5, 2025, were priced at Rs 84,555.
Globally, gold rates remained strong, with spot prices at $2,869, driven by tariff changes and geopolitical tensions, according to the World Gold Council.
Top gainers and losers
In early trading, Power Grid led the Sensex gainers with a 1.67% rise, followed by Infosys at 0.84%. Asian Paints and HCL Technologies gained 0.67% and 0.60%, respectively, while Bajaj Finance saw a 0.58% uptick.
On the losing side, Kotak Mahindra Bank slipped by 0.62%, with M&M down 0.86%. ITC and Tata Steel dropped by 1.02% and 1.04%, respectively, while Titan Company faced a 1.65% decline.
From the Nifty 50 pack, the top 5 gainers in the early trading hours included Hindalco, ITC Hotels, ONGC, Apollo Hospitals, BPCL. On the flip side, the laggards were Asian Paints, Titan, Nestle India, Britannia and Tata Consumer.