Sunday, 10 December, 2017

Sensex, Nifty end lower as traders cautious ahead of RBI decision

The 30-share Sensex opened on a negative note on across-the-board losses and touched a low of 32,682.52 The 30-share Sensex opened on a negative note on across-the-board losses and touched a low of 32,682.52
Theresa Hayes | 05 December, 2017, 16:04

Equity markets remained under pressure throughout the trading session on Tuesday as Sensex and Nifty finished in the red.

The kickstart of the two-day RBI policy review, at a time when a global rating has cut India's GDP forecast for FY18, will sway the market sentiment on Tuesday.

The wider Nifty50 of the National Stock Exchange (NSE) edged lower by 9.50 points or 0.09 per cent at provisionally close (at 3.30 p.m.) at 10,118.25 points. "Broad market indices like the BSE mid-cap index ended with gains, thereby outperforming the main indices", Jasani added. The broad based Nifty traded near 1-month low.

Among the sectoral indices on BSE, power and metal indices slipped 1.06 per cent and 0.85 per cent. Telecom, Bankex and oil & gas indices closed higher by 0.83 per cent, 0.38 per cent and 0.16 per cent, respectively. The central bank is widely expected to keep policy rates unchanged tomorrow and will stay focused on controlling inflation, experts said.

On the currency front, the rupee closed nearly flat at 64.38-39 against the USA dollar from its previous close at 64.37-38.

Meanwhile, foreign portfolio investors offloaded shares worth net Rs333.59 crore, while domestic institutional investors bought shares to the tune of Rs776.18 crore on Monday, as per provisional data.

Sector-wise, Metal fell by 0.82 per cent, Realty 0.55 per cent, Auto 0.53 per cent, IT 0.51 per cent and FMCG 0.24 per cent.

On the other hand, the S&P BSE banking index declined by 85.91 points, auto index by 53.20 points and energy index by 22.29 points.

Vinod Nair, Head of Research, Geojit Financial Services, said: "After a subdued trade, the market reversed from day's low led by banking stocks".

Losers included Wipro, Hero MotoCo, ONGC, Tata Steel, UPL, Eicher Motors, NTPC and Dr Reddy's. Find us on Facebook too!