Sensex slumps 215 points, Nifty below 10,650; investors turn cautious amid speculation of a RBI rate hike

Mumbai: Benchmark Sensex tanked over 215 points to close at 35,011.89 on Monday as cautious investors trimmed their portfolios amid the RBI's monetary policy meeting getting underway.

The RBI's Monetary Policy Committee began its three-day meeting on Monday amid speculation that it may hike the key interest rate on 6 June for the first time in about four-and-half years on account of firming inflation.

Representational image. Reuters.

Representational image. Reuters.

The 30-share Sensex opened on a strong footing on across-the-board gains amid positive global leads and hit a high of 35,555.59.

However, it soon slipped into the negative zone on massive selling in several heavyweights. It finally ended at 35,011.89, down 215.37 points or 0.61 percent.

The broader NSE Nifty too ended lower by 67.70 points, or 0.63 percent, at 10,628.50, after hovering between 10,770.30 and 10,618.35.

Meanwhile, foreign portfolio investors (FPIs) offloaded shares worth a net Rs 202.80 crore, while domestic institutional investors (DIIs) bought equities to the tune of Rs 337.97 crore on Friday, as per provisional data.

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Updated Date: Jun 04, 2018 16:51:18 IST

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