Sensex drops 73 points ahead of RBI policy meet

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Sensex today closed 73 points lower on profit-selling triggered by lower growth projection. (Reuters) Sensex today closed 73 points lower on profit-selling triggered by lower growth projection. (Reuters)
SummarySensex today closed 73 points lower on profit-selling triggered by lower growth projection.

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 (1.01 pc).

Among the BSE sectoral indices, BSE-Teck dropped by 1.32 per cent, followed by BSE-IT (1.22 pc) and BSE-FMCG (0.52 pc) among others. BSE-Metal firmed up by 1.76 per cent, BSE-Auto by 0.67 per cent and the BSE-HC 0.43 by per cent.

The total market breadth turned positive as 1,540 stocks finished with gains while 1,350 ended with losses. The total turnover moved up to Rs 2,466.07 crore from the last Friday's level of Rs 2,424.53 crore.

Meanwhile, Foreign institutional investors (FIIs) bought shares worth a net Rs 574.38 crore yesterday as per provisional data from the stock exchanges.

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