Sensex slips 108 pts ahead of RBI meet, on Asian cues

Sensex slips 108 pts ahead of RBI meet, on Asian cues

According to market observers, investors traded with caution ahead of the outcome of the Reserve Bank of India's (RBI) two-day policy review meet on Wednesday. "It was a volatile session ahead of the outcome of RBI's MPC (Monetary Policy Committee) meet tomorrow", Deepak Jasani, Head, Retail Research, HDFC Securities, told IANS. Although the central bank is widely expected to keep rates on hold, investors will watch for any hints of a cut at the February meeting in its statement.

At 10.30 AM: Benchmark Sensex was 80 points low or 0.25% to 32,788.81 while the wider Nifty was down by over 29 points or0.30% to 10,097.85. However, value-buying in several heavyweights towards the fag-end trimmed the losses, with the index finishing at 32,802.44, down 67.28 points, or 0.20%.

At 9:39 AM, the BSE Sensex 0.4% to 32,725 and Nifty 50 Index declined 0.32% to 10,095.

Meanwhile, services sector activity slipped into the contraction territory during November, post the implementation of the Goods and Service Tax (GST) that led to sluggish demand and lower customer turnout, a monthly survey said.

Starbucks Reserve Roastery opens in Shanghai
Customers can also visit Tmall to purchase Shanghai Roastery and Reserve branded merchandise and coffee for home delivery. That could be changing. "They are registering explosive growth rates", said Shanghai-based Euromonitor analyst Yu Limin.

Out of 1,975 stocks traded on the NSE, 563 advanced, 941 declined, and 471 remained unchanged today.

In the broader markets, the S&P BSE mid-cap index closed lower by 0.09 per cent and the small-cap index by 0.52 per cent. Among other Asian markets, Hong Kong's Hang Seng was down 0.39 per cent while Japan's Nikkei shed 0.42 per cent in early session today.

Biggest gainers in the 30-share index were Infosys (2.80%), Hindustan Unilever (1.37%), Housing Development Finance Corporation (1.25%), Tata Motors (1.06%), Tata Steel (1.03%), and Bharti Airtel (0.94%).

Related Articles