Press Esc to close
Saturday 20 September 2014
News updated at 11:26 PM IST
Weather
Max: 27.8°C
Min : 20.6°C
In Bangalore
Sunny day

Sensex drops 73 pts ahead of RBI policy meet

Mumbai, Dec 17, 2012 (PTI)

 The BSE benchmark Sensex today closed 73 points lower on profit-selling in blue-chips, including HDFC group firms and the IT pack, amid a lower GDP growth projection for current fiscal even as some are expecting RBI to spring a surprise tomorrow.

The 30-share Sensex resumed lower at 19,290.92 and hovered in a narrow 130-point range, before ending at 19,244.42, a loss of 72.83 points or 0.38 per cent.
Similarly, the NSE 50-share Nifty also moved down by 21.70 points, or 0.37 per cent, to 5,857.90.

Brokers said trading sentiment dampened after government lowered the growth projection for the current financial year to 5.7-5.9 per cent from 7.6 per cent estimated earlier.
Moderating inflation has raised hopes of rate cut by the Reserve Bank tomorrow, but experts believe it is more likely to cut the Cash Reserve Ratio for banks than go for rate cut.

HDFC and HDFC Bank shares slipped 1.6-1.8 per cent.


Most investors remained cautious and refrained from enlarging any fresh positions before the RBI mid-quarterly policy meeting tomorrow, brokers added. However, ICICI Bank and SBI shares gained 0.6-1 per cent.

"Market is likely to stay cautious in anticipation of the RBI move tomorrow. Rates are most likely to remain unchanged ...yet some are expecting RBI to spring a surprise," said Amar Ambani, Head of Research, IIFL.

Reliance Industries and ITC fell 0.6-0.8 per cent on profit-booking activity. Bharti Airtel, which fell 3.7 per cent, was the worst performer in Sensex today. Weak sentiment from Europe also hit domestic markets on concerns over the so-called US fiscal cliff.

IT stocks, including TCS and Wipro fell in 1.4-2.8 per cent. Infosys also dropped 0.56 per
cent on growth worries, dealers said.

Go to Top

Photo Gallery
Pramoda Devi Wadiyar unveils Srikantadatta Narasimharaja Wadiyar's wax statute in Mysore ...

Pramoda Devi Wadiyar unveils Srikantadatta Narasimharaja Wadiyar's wax statute in Mysore ...

Amitabh Bachchan attends a “Kaun Banega Crorepati” event in Mumbai ...

Amitabh Bachchan attends a “Kaun Banega Crorepati” event in Mumbai ...

Gold medal winner India's Jitu Rai poses at the medal ceremony of Men's 50M Pistol shooting ...

Gold medal winner India's Jitu Rai poses at the medal ceremony of Men's 50M Pistol shooting ...

India's Heena Sindhu  during 10M Air Pistol Women's team qualification shooting ...

India's Heena Sindhu during 10M Air Pistol Women's team qualification shooting ...

Dalai Lama during inaugural speech at two-day meeting of Diverse Spiritual Traditions of India ...

Dalai Lama during inaugural speech at two-day meeting of Diverse Spiritual Traditions of India ...

John Abraham along with Spanish football player Joan Capdevila during a press conference in ...

John Abraham along with Spanish football player Joan Capdevila during a press conference in ...

India's badminton player P V Sindhu play a shot against Thailand's Buranaprasertsuk ...

India's badminton player P V Sindhu play a shot against Thailand's Buranaprasertsuk ...

ITC Chairman Y C Deveshwar meets Prime Minister Narendra Modi to hand over a cheque for  ...

ITC Chairman Y C Deveshwar meets Prime Minister Narendra Modi to hand over a cheque for ...

India's P C Thulasi plays a shot during the Quaterfinal match of women's singles badminton ...

India's P C Thulasi plays a shot during the Quaterfinal match of women's singles badminton ...

Two stray dogs on a pipe in a flooded locality on the outskirts of Srinagar ...

Two stray dogs on a pipe in a flooded locality on the outskirts of Srinagar ...

Copyright 2014, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bangalore - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523