The two key equity benchmarks, Sensex and Nifty on Thursday were trading in the red in the morning session, ahead of the Reserve Bank of India’s (RBI’s) monetary policy outcome scheduled today. At 9.30 am, the BSE Sensex was down 192 points to 65,904. On the other hand, the NSE Nifty50 was trdaing at 19,582, down 51 points. It is expected that the central bank;s rate setting committee is widely expected to take a hawkish stance as flaring vegetable prices upend the inflation math of the economy.
On the 30-share Sensex platform, Asian Paints, HCL, TechM, TCS, Tata Motors, ITC emerged early losers. On the downside, UltraCemco, NTPC, PowerGrid, M&M, Sun Pharma, JSW Steel emerged gainers. Among speciifc stocks, shares of Hero MotoCorp declined over half a per cent amid reports that the tax authorities are investigating Hero MotoCorp’s relationship with a vendor suspected of reporting about Rs 90 crore in false expenditure.
In the broader markets, the BSE Midcap and Smallcap indices outperformed the benchmark indices as they climbed 0.22 per cent and 0.34 pe cent, respectively.
Sectorwise, the Nifty IT index was down 0.23 per cent, followed by the Nifty FMCG index (down 0.2 per cent), while the Nifty Media gained 1 per cent and the Nifty Metal added 0.2 per cent.
In the previous session on Wednesday, the BSE Sensex settled 149 points up to 65,996, while the NSE Nifty50 closed above 62 points to 19,633.
