RBI monetary policy: Sensex slumps 100 points as interest-sensitive stocks sell; weaker rupee dampens sentiment

Mumbai: The benchmark BSE Sensex fell further by 100 points in early trade on Wednesday due to selling in interest-sensitive stocks ahead of RBI’s policy announcement later in the day. The rupee’s weakness against the dollar too dampened the overall mood. The 30-share index fell 100.07 points, or 0.30 percent, to 32,702.37, with sectortal indices of banking, auto, metal and PSU trading dropping up to 1.76 percent. The gauge had lost 67.28 points in the previous session.  The NSE Nifty too shed 39.15 points, or 0.38 percent, at 10,079.10. Brokers said sentiment remained somewhat subdued as investors kept their positions at a low ebb amid expectation that the central bank may keep rates unchanged. Major losers were SBI, ICICI Bank, HDFC Bank, Axis Bank, HDFC Ltd, Maruti Suzuki, Bajaj Auto,Hero MotoCorp, Tata Steel, ITC Ltd and Wipro. Among the Asian bourses, Hong Kong’s Hang Seng was down 1.12 percent while Japan’s Nikkei shed 0.90 percent. Shanghai Composite Index too fell 0.61 percent in early trade on Wednesday. The US Dow Jones Industrial Average ended 0.45 percent lower on Tuesday.