BSE Sensex falls 38 pts ahead of RBI quarterly monetary policy review, SBI, ICICI Bank shares hit

Oct 29 2013, 10:55 IST
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BSE Sensex, NSE Nifty may have been hit, but Maruti Suzuki shares gain 5 percent. PTI BSE Sensex, NSE Nifty may have been hit, but Maruti Suzuki shares gain 5 percent. PTI
SummaryBSE Sensex, NSE Nifty down as SBI, ICICI Bank shares hit by hints from Raghuram Rajan's RBI.

Extending its losing streak for the sixth straight day, the BSE Sensex today fell over 38 points on sustained selling by funds and investors ahead of RBI's quarterly monetary policy review.

The 30-share barometer moved down by 38.50 points, or 0.19 per cent, to 20,531.78 with banking, realty and capital goods sector stocks leading the fall.

BSE Sensex had lost nearly 325 points in the past five sessions.

The wide-based NSE Nifty shed 8.45 points, or 0.14 per cent, to 6,092.65.

Brokers said selling by participants before the Reserve Bank of India's (RBI) second quarter monetary policy review today mainly led to the fall in stock prices.

Besides, a weakening trend in the Asian region also dampened the sentiments, they said.

In the Asian region, Japan's Nikkei fell 0.14 points, and Hong Kong's Hang Seng shed 0.11 per cent in early trade today.

The US Dow Jones Industrial Average ended 0.01 per cent lower in yesterday's trade.

Sensex down 38 pts in early trade ahead of RBI policy review

(Reuters) BSE Sensex is down 0.05 percent while the broader CNX Nifty is down 0.1 percent today on caution ahead of Reserve Bank of India's (RBI) quarterly monetary policy review at 0530 GMT - Guv Raghuram Rajan has hinted that key interest rates may be hiked further.

Also check: Markets Top Gainers, Markets Top Losers

Banking stocks fall as the RBI is expected to raise its lending rate by a quarter percentage point for a second straight month to combat inflation despite the country's sputtering economic growth.

State Bank of India (SBI) shares are down 0.7 percent while ICICI Bank fell 0.8 percent.

ITC Ltd shares fall 0.5 percent, adding to Monday's 3.6 slump after its quarterly results on Friday.

However, Maruti Suzuki India shares gains 5 percent after India's biggest carmaker reported July-September net profit tripled from a year earlier, beating estimates.

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