India Stocks Review
Street looks past RBI MPC's decision to hold repo rate
This story was originally published at 17:53 IST on 5 August 2026
Register to read our real-time news.Informist, Wednesday, Aug. 5, 2026
By Gopika Balasubramanium
MUMBAI – The Reserve Bank of India's decision to keep the policy repo rate unchanged for the fourth time did not move the needle for the market as it had already been priced in. The central bank also kept its stance neutral and slightly tweaked its GDP growth and inflation estimates. Stocks tied to rate-sensitive sectors such as automobiles and real estate gained while select banking and financial services companies fell. Small-cap indices fared better than both the headline and mid-cap indices on the back of robust earnings and better returns.
While the sentiment in the market remains positive, there was intraday volatility in the headline indices due to the new closing mechanism. While this was introduced to contain last-moment price changes, there has been divergence in the levels of the two benchmark indices since Monday. There has been a lot of last-minute volatility, especially in the Nifty 50, which experts argue is due to the crunch in liquidity and demand-supply mismatch.
Wednesday, the Nifty 50 index ended at 24624.65 points, up 9.75 points. This was, however, only 54.45 points away from the level of 24570.20 points when the continuous session ended. The disparity between these levels of the Nifty 50 has narrowed. Monday, the difference was 200 points, which came down to 150 points Tuesday. The BSE Sensex ended at 78581 points, up 152.05 points or 0.2%. The disparity between the movement of these two indices was evident throughout the session. The Nifty 50 was in the red, as investors exited positions, while the BSE Sensex was largely in the green. However, towards the end, both ended higher.
Back to fundamentals, while the tone of the RBI's rate-setting committee was largely neutral-to-dovish, and there were no hawks in the committee, the decision to hold the interest rates may also be read as a pause, experts said. "Markets should treat 5.25% as the base case, not a guarantee," Shubhada Patil, founder and research analyst at Quantace Research, said in a note.
"Our view is to price an extended 5.25% hold as the central case, but treat 5.50% as the defensive outcome if (crude) oil strength, sharper INR depreciation, or rising core and services inflation signals generalised imported cost pressures," she said. "A prolonged hold favours deposit-rich banks, capital goods and infrastructure, while a defensive hike would weigh on NBFCs (non-banking finance companies), real estate, autos and EMI-sensitive (equated monthly instalment-sensitive) consumption sectors," Patil added.
Shriram Finance, Grasim Industries, and JSW Steel were the top gainers in the Nifty 50 and ended 2-3% higher. Tata Consultancy Services, Apollo Hospitals Enterprise, and HCL Technologies ended 1-2% lower. All the constituents of the Nifty Auto sectoral index ended higher. Bosch, Sona BLW Precision Forgings, Ashok Leyland, and Hero MotoCorp ended 2-4% higher.
Select real estate stocks rose. Godrej Properties, Lodha Developers, and Oberoi Realty were up 1.5-3%. Analysts are bullish on these stocks even though they are not very enthusiastic about the sector as a whole. While pre-sales numbers showed good growth in the June quarter, the earnings for various real estate companies were only decent.
* Of the Nifty 50 stocks, 30 rose, 20 fell
* Of the Sensex stocks, 18 rose, 12 fell
* On the NSE, 1,974 stocks rose, 1,394 fell, and 104 were unchanged
* On the BSE, 2,330 stocks rose, 1,911 fell, and 216 were unchanged
* Nifty Media: down 1.6%; Nifty Private Bank: down 0.4%; Nifty Metal: up 1.7%
BSE NSE
Sensex: 78581, up 152.05 points or 0.2% Nifty 50: 24624.65, up 9.75 points, or flat
|
S&P BSE Sensitive Index |
Nifty 50 |
|
Lifetime High: 86159.02 (Dec. 1, 2025) |
: Lifetime High: 26373.20 (Jan. 5, 2026) |
|
Record Close High: 85836.12 (Sept. 26, 2024) |
: Record Close High: 26328.55 (Jan. 2, 2026) |
|
2026 1st day close: 85188.60 (Jan. 1) |
: 2026 1st day close: 26146.55 (Jan. 1) |
|
2026 Closing High: 85762.01 (Jan. 2) |
: 2026 Closing High: 26328.55 (Jan. 2) |
|
2026 Closing Low: 71947.55 (Mar. 30) |
: 2026 Closing Low: 22331.40 (Mar. 30) |
|
2026 High (intraday): 85883.50 (Jan. 5) |
: 2026 High (intraday): 26373.20 (Jan. 5) |
|
2026 Low (intraday): 71545.81 (Apr. 1) |
: 2026 Low (intraday): 22182.55 (Apr.2) |
|
2025 1st day close: 78507.41 (Jan. 1) |
: 2025 1st day close: 23742.90 (Jan. 1) |
|
2025 Closing High: 85720.38 (Nov. 27) |
: 2025 Closing High: 26215.55 (Nov. 27) |
|
2025 Closing Low: 72989.93 (Mar. 4) |
: 2025 Closing Low: 22082.65 (Mar. 4) |
|
2025 High (intraday): 86159.02 (Dec. 1) |
: 2025 High (intraday): 26325.80 (Dec.1) |
|
2025 Low (intraday): 71425.01 (Apr. 7) |
: 2025 Low (intraday): 21743.65 (Apr. 7) |
|
2024 1st day close: 72271.94 (Jan. 1) |
: 2024 1st day close: 21741.90 (Jan. 1) |
|
2024 Closing High: 85836.12 (Sept. 26) |
: 2024 Closing High: 26216.05 (Sept. 26) |
|
2024 Closing Low: 70370.55 (Jan. 23) |
: 2024 Closing Low: 21238.80 (Jan. 23) |
|
2024 High (intraday): 85978.25 (Sep. 27) |
: 2024 High (intraday): 26277.35 (Sept. 27) |
|
2024 Low (intraday): 70001.60 (Jan. 24) |
: 2024 Low (intraday): 21137.20 (Jan. 24) |
|
2023 1st day close: 61167.79 (Jan. 2) |
: 2023 1st day close: 18197.45 (Jan. 2) |
|
2023 Closing High: 72410.38 (Dec. 28) |
: 2023 Closing High: 21778.70 (Dec. 28) |
|
2023 Closing Low: 59288.35 (Feb. 27) |
: 2023 Closing Low: 17311.80 (Oct. 17) |
|
2023 High (intraday): 72484.34 (Dec. 28) |
: 2023 High (intraday): 21801.45 (Dec. 28) |
|
2023 Low (intraday): 58699.20 (Jan. 30) |
: 2023 Low (intraday): 17098.55 (Jan. 17) |
|
2022 1st day close: 59183.22 (Jan. 3) |
: 2022 1st day close: 17625.70 (Jan. 3) |
|
2022 Closing High: 63284.19 (Dec. 1) |
: 2022 Closing High: 18812.50 (Dec. 1) |
|
2022 Closing Low: 51360.42 (Jun. 17) |
: 2022 Closing Low: 15293.50 (Jun. 17) |
|
2022 High (intraday): 63583.07 (Dec. 1) |
: 2022 High (intraday): 18887.60 (Dec. 1) |
|
2022 Low (intraday): 50921.22 (Jun. 17) |
: 2022 Low (intraday): 15183.40 (Jun. 17) |
|
2021 Closing High: 61305.95 (Oct. 14) |
: 2021 Closing High: 18338.55 (Oct. 14) |
|
2021 Closing Low: 46285.77 (Jan. 29) |
: 2021 Closing Low: 13634.60 (Jan. 29) |
|
2021 High (intraday): 61353.25 (Oct. 14) |
: 2021 High (intraday): 18350.75 (Oct. 14) |
|
2021 Low (intraday): 46160.46 (Jan. 29) |
: 2021 Low (intraday): 13596.75 (Jan. 29) |
|
2020 Closing High: 47751.33 (Dec. 31) |
: 2020 Closing High: 13981.95 (Dec. 30) |
|
2020 Closing Low: 25981.24 (Mar. 23) |
: 2020 Closing Low: 7610.25 (Mar. 23) |
|
2020 High (intraday): 47896.97 (Dec. 31) |
: 2020 High (intraday): 14024.85 (Dec. 31) |
|
2020 Low (intraday): 25638.90 (Mar. 24) |
: 2020 Low (intraday): 7511.10 (Mar. 24) |
|
2019 High (intraday): 41809.96 (Dec. 20) |
: 2019 High (intraday): 12293.90 (Dec. 20) |
|
2019 Low (intraday): 35287.16 (Feb. 19) |
: 2019 Low (intraday): 10583.65 (Jan. 29) |
|
2018 High (intraday): 38938.91(Aug. 28)) |
: 2018 High(intraday): 11760.20 (Aug. 28) |
|
2018 Low (intraday): 32483.8 (Mar. 23) |
: 2018 Low (intraday): 9951.9 (Mar. 23) |
|
2017 High (intraday): 34005.37 (Dec. 26) |
: 2017 High(intraday): 10515.10 (Dec. 26) |
End
Edited by Shubhayan Bhattacharya
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