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The Sensex plummeted by over 1,000 points, closing at 76,330, driven by unfavorable global cues, significant FII sell-offs, and a historic low for the rupee against the dollar. Rising Brent crude prices and concerns over inflation further dampened market sentiment ahead of the upcoming Union Budget 2025.
On December 6, the Reserve Bank of India cut the cash reserve ratio (CRR) by 50 bps, injecting Rs 1.16 lakh crore into the banking system, while maintaining the repo rate at 6.5% for the 11th consecutive meeting. The Monetary Policy Committee aims to achieve a medium-term consumer price index inflation target of 4%, amidst rising inflation and subdued growth, with the latest CPI at 6.21%. Experts view the CRR reduction positively for bank liquidity, though expectations for further repo rate cuts remain cautious.
Analysts predict that Samvat 2081 will yield lower returns than the previous year, with 74% believing last year's gains are difficult to replicate. While some sectors may outperform, high valuations from Samvat 2080 could hinder stock performance, necessitating selective stock picking and vigilance for potential gains.
Divam Sharma
People
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
stock market crash sensex plunges over 1000 points amid global turmoil
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