Sensex down 102 points in cautious trade, slips below 35,000 mark; power, banking, realty stocks decline; Re dips
Sensex, which had lost 310.49 points in the previous two sessions, fell further by 101.70 points, or 0.29 percent, to 34,910.19.
Mumbai: The BSE benchmark Sensex slipped below the key 35,000-mark in early trade today following losses in banking, power, realty and capital goods stocks. Investors are cautious ahead of Reserve Bank of India's (RBI) policy-decision due tomorrow, brokers said.
The RBI's Monetary Policy Committee began its three-day meeting yesterday amid speculation that it may hike the key interest rate for the first time in over four years on account of firming inflation.
The 30-share index, which had lost 310.49 points in the previous two sessions, fell further by 101.70 points, or 0.29 percent, to 34,910.19.
Sectoral indices led by power, banking, realty, capital goods and PSU declined up to 1.20 percent.
The NSE Nifty also shed 33.55 points, or 0.32 percent, to 10,594.95.
Shares of Power Grid, Yes Bank, Bharti Airtel, Dr Reddy's, Infosys, Hero MotoCorp, L&T, HUL, Axis Bank, Bajaj Auto, HDFC Ltd and NTPC were trading in the negative zone with losses of up to 2.41 percent.
Meanwhile, domestic institutional investors (DIIs) sold shares worth a net Rs 712.41 crore, while foreign portfolio investors (FPIs) bought shares worth Rs 2,354.03 crore yesterday, as per provisional data released by the stock exchanges.
Among other Asian markets, Hong Kong's Hang Seng fell 0.05 percent, while Japan's Nikkei was up 0.12 percent in early trade. Shanghai Composite Index also rose 0.02 percent. The US Dow Jones Industrial Average ended 0.72 percent higher in yesterday's trade.
Rupee dips 5 paise vs dollar
The rupee was trading lower by 5 paise at 67.16 against the US dollar in early trade today amid caution ahead of RBI's policy decision tomorrow.
Forex dealers said increased demand for the US currency from importers as also the greenback's gains against rivals overseas put pressure on the rupee.
Yesterday, the rupee had ended 5 paise lower at 67.11 against the US dollar.
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