BSE Sensex at over 1-wk low, Nifty below 8,800 ahead of RBI policy

By: | Updated: February 2, 2015 6:32 PM

Major laggards include Bharti Airtel, Dr Reddys, HUL, ICICI Bank, ITC, Sesa Sterlite, Tata Steel and Coal India.

BSE Sensex, NSE nifty, market todaySensex fell nearly 61 points to over one-week low of 29,122.27 on caution ahead of the RBI policy review tomorrow. (Reuters)

In volatile trade, domestic markets slipped for the second successive session with the benchmark Sensex today falling nearly 61 points to over one-week low of 29,122.27 on caution ahead of the RBI policy review tomorrow.

On similar lines, the 50-share NSE index Nifty, after moving both ways, slipped below the crucial 8,800-mark and settled down 11.50 points, or 0.13 per cent, at 8,797.40.

Profit-booking in recent outperformers, disappointing earnings from some bluechip companies and mixed global cues also weighed on the stock market sentiment, traders said.

Meanwhile, manufacturing sector activity in January slipping from December’s two year record-high as new orders, both from domestic and international sources, continued to grow but at a slower pace, accoding to a monthly HSBC survey.

The BSE Sensex, after commencing on a lower note, continued its decline and slipped below the 29,000-mark to touch intra-day low of 28,958.52 on sustained profit-booking.

However, the benchmark Sensex managed to enter the positive terrain briefly to touch the day’s high of 29,268.13 but late-selling again pushed it back to close at 29,122.27, down 60.68 points, or 0.21 per cent. This is its weakest closing level since 29,006.02 on January 22, 2015.

The Sensex had tumbled 498.82 points last Friday, logging its second biggest single-day fall this year.

In the 30-share Sensex pack, 17 closed with losses, while 13 others led by Axis Bank, Hindalco, Wipro, L&T, GAIL, Sun Pharma, TCS, Tata Motors, Maruti Suzuki and BHEL ended higher.

Major laggards include Bharti Airtel, Dr Reddys, HUL, ICICI Bank, ITC, Sesa Sterlite, Tata Steel and Coal India.

Sectorwise, the BSE FMCG sector index suffered the most by falling 1.77 per cent, followed by Oil & Gas index (0.54 per cent), Metal index (0.47 per cent) and Healthcare index (0.23 per cent).

However, Capital Goods, IT, Consumer Durables, Teck, Auto, Power, Realty and Banking indices ended higher.

Meanwhile, provisional data showed that Foreign Portfolio Investors (FPIs) sold shares worth net Rs 771.55 crore last Friday.

Market Outlook by Vinod Nair, Head-Fundamental Research, Geojit BNP Paribas Financial Services
Tomorrow’s RBI policy meet will be keenly watched by the market. As a result we have seen high volatility in intraday today. Expectation is that RBI will not change rate now, but probably act post budget. However RBI’s language is more important, which will provide room for next policy action.

Market Wrap Up by Alex Mathews, Head Research, Geojit BNP Paribas Financial Services
Weak global market kept our market down in the morning session ahead of the RBI policy meet.  The weak Chinese and US data’s affected the global markets negatively including Indian markets. Dow is very close to its 200 day moving average at 17061, which is the crucial support level.
Nifty today made a low of 8751 but maintained to close at 8797, down around 11 points.  The major fall in the index was led by the counters ICICI Bank, HDFC Bank, Infosys and SBIN. The market breadth changed to positive from negative as there were seen 1614 stocks advancing against 1300 stocks declining. The Nifty volatility index, India VIX stood at 20.4050 up around 1.15%.   The Mid cap and small cap sectors closed up around 0.56% and 1.13% respectively.
The major gainers in the sectoral front were Capital goods and IT which closed up around 1.25% and 1% respectively whereas the major loser was FMCG sector, closed down around 1.77%.
In the stocks’ front, buying were seen in HCL Tech and Axis Bank, closed up around 5.95% and 5.55% whereas selling were seen in Asian Paint and Bharti Airtel which closed down around 5.70% and 3.67% respectively.
The FIIs were net sellers in the capital market segment, sold shares worth Rs 771.55 crore on Friday, 30 January 2015. On the other hand the DIIs were net sellers on 30 January 2014, sold shares worth Rs 37.60 crore as per the provisional data from the stock exchanges.
The European markets were little changed. The US index futures were trading in green.
Tomorrow companies like ACC, Timken, Shalimar paints, PFC, Jubilant, Marico, Hero Motocorp, Crompton Greaves, Manappuram, Jindal Steel, Lupin, Infratel and TVS motors may announce their earnings.

 

 

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