Sensex down 213 points, all eyes on RBI policy

India’s benchmark indices, Sensex and Nifty 50, settled down in red on Thursday.The Sensex tumbled by 213.12 points to settle at 78,058.16 on Thursday ahead of the Reserve Bank of India's (RBI) monetary policy decision on Friday. However, largely positive global cues and a decline in US bond yields capped the losses for the key indices. Meanwhile, Nifty50 was down 92.95 points to settle at 23,603.35 points.
The Nifty 50 settled with a loss of 93 points, or 0.39 per cent, at 23,603.35. The BSE Midcap index underperformed, falling 0.87 per cent, while the Smallcap index ended flat. In the last two sessions, the Sensex has declined 526 points, or 0.70 per cent, while the Nifty 50 has retreated 136 points or 0.60 per cent.
SBI, on Thursday, posted 84 per cent year-on-year (YoY) jump in its net profit for the quarter ending December 31, 2024, to Rs 16,891 crore, surpassing expectations. In the same period last year, the public sector lender's net profit was Rs9,164 crore.
Rupee plunged 14 paise to close at an all-time low of 87.57 (provisional) against the US dollar on Thursday, as rising odds of a rate cut by the Reserve Bank of India in its monetary policy meeting on Friday pressurised the rupee. Forex traders said the Indian rupee plunged to fresh record lows amid weak domestic markets and importer demand for dollars. Moreover, risk aversion in global markets amid ongoing uncertainty over US trade tariffs may further weigh on the rupee.