Sensex drops 73 points ahead of RBI policy meet
IT stocks, including TCS and Wipro fell in 1.4-2.8 per cent. Infosys also dropped 0.56 per cent on growth worries, dealers said.
However, shares of of metal, auto and healthcare sectors firmed up on good buying enquiries. Smallcap and midcap shares were also in demand, said traders. Globally, Asian stocks ended mostly lower today on US fiscal cliff worries while Japanese shares advanced after a party that backs more economic stimulus returned to power after general elections on Sunday.
Key benchmark indices in Hong Kong, Indonesia, Taiwan, Singapore and South Korea fell between 0.31-0.88 per cent.
China's Shanghai Composite also rose 0.45 per cent.
European stocks were trading lower in their afternoon deals with key benchmark indices in France, Germany and UK declining by 0.13-0.64 per cent.
Commenting on the Indian markets, Kishor P Ostwal, CMD, CNI Research Ltd said: "Market was nervous ahead of RBI policy meet and Nifty closed at 5888. Banking stocks were consolidating."
16 scrips out of the 30-share Sensex pack firmed up while 14 ended with losses. Major losers from the Sensex were Bharti Airtel (3.69 pc), TCS (2.83 pc) HDFC (1.85 pc), BHEL (1.76 pc), HDFC Bank (1.60 pc), Wipro (1.44 pc) and ITC (0.81 pc).
However, Sterlite Industries rose by 4.06 per cent, followed by Hindalco (3.46 pc), Jindal Steel (2.36 pc), Maruti Suzuki (1.70 pc), Tata Power (1.34 pc), Cipla (1.29 pc), Bajaj Auto (1.21 pc), NTPC (1.08 pc) and SBI
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