Indian share markets ended lower on Wednesday after Reserve Bank of India kept the key policy rate unchanged at 6% for the third consecutive time in view of firming inflation. Reverse Repo rate was also maintained at 5.75%.

The Monetary Policy Committee (MPC), headed by RBI Governor Urjit Patel, had last reduced the benchmark lending rate by 0.25 percentage points to 6% last August, bringing it to a 6-year low.

In its December review, the MPC had kept the benchmark interest rate unchanged on concerns of a possible price rise but had left the door open for a rate cut in future.

At the closing bell, BSE Sensex closed 113 points down and NSE Nifty settled 21 points down. Meanwhile, Midcap and Smallcap indices outperformed the Sensex by rising 0.43% and 1.95%, respectively.

Among the sectoral indices on BSE, oil and gas, realty, energy and healthcare led the gains, while telecom and IT declined.

Top Stocks in Focus

ICICI Bank share price will be focus as it has received an approval for domestic fund raising by way of issuance of senior unsecured long term bonds/ Basel III compliant unsecured subordinated perpetual Additional Tier 1 bonds in single/multiple tranches on private placement basis.

Eicher Motors’ reported a consolidated net profit growth of 24.5% year-on-year at Rs 5.2 billion. Revenue from operations grew by 23.7% to Rs 22.7 billion in Q3 compared to Rs 18.4 billion in year-ago.

Idea Cellular share price will hog limelight after the telecom major suspended its interconnect services with Aircel, due to non-payment of dues.

Oil Minister Dharmendra Pradhan on the issue of splitting gas utility GAIL said a decade-old policy provides for a natural gas transporter not having any interest in marketing of the fuel. Pradhan stated that splitting gas utility GAIL India Ltd by separating its gas marketing business from its primary role as a transporter of gas.

Cipla share price will be in focus as it posted an about 7% rise in third-quarter net profit on Wednesday. Net profit rose to Rs 4 billion (US$62.5 million) in the quarter ended 31 December, from Rs 3.8 billion a year earlier.