Research

Sensex, Nifty Finish Lower Ahead Of RBI Meet

Sensex, Nifty Finish Lower Ahead Of RBI Meet

BSE benchmark Sensex ended over 67 points down in volatile trade today as cautious investors trimmed their portfolios ahead of RBI's policy announcement amid subdued macro cues.

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.

Negative global cues and weak Nikkei India services PMI data also weighed on sentiment. "Broad market indices like the BSE mid-cap index ended with gains, thereby outperforming the main indices", Jasani added.

Market breadth was negative with 1,101 advances against 1,460 declines. The broad based Nifty traded near 1-month low. The central bank is widely expected to keep policy rates unchanged tomorrow and will stay focused on controlling inflation, experts said.

United Kingdom consumers face sharpest price rise in services for almost a decade
Moreover, the rate of prices charged inflation was the second-fastest seen since the survey began in 1996. A PMI covering the bloc's dominant service industry soared to a six-month high of 56.2 from October's 55.

Meanwhile, the Indian rupee opens higher at 64.30 per dollar against Monday's close of 64.37.

Sector-wise, the S&P BSE IT index gained by 145.14 points, metal index by 68.85 points and Teck (technology, media and entertainment) index by 64.81 points. "On the macro front upcoming RBI policy and Gujarat state election will be an influential factor for investors which is steering the market to consolidate", said Vinod Nair, head of research, Geojit Financial Services.

The Nifty mid-cap index rose by 0.03 per cent, while small-caps fell 0.25 per cent.

Major Sensex losers were: Coal India, down 2.09 per cent at Rs 266.55; Maruti Suzuki, down 1.10 per cent at Rs 8,512.90; Asian Paints, down 1.02 per cent at Rs 1,124.50; Sun Pharma, down 0.95 per cent at Rs 520.95; and Reliance Industries, down 0.92 per cent at Rs 901.50.


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