Sensex slips 47 points as RBI holds policy rate

Sensex slips 47 points as RBI holds policy rate

Sensex slips 47 points as RBI holds policy rate

Brokers said besides a weak trend in global markets after Federal Reserve meeting minutes suggested the USA central bank was considering tightening monetary policy, caution ahead of Reserve Bank's monetary policy to be announced later in the day influenced the sentiment.

The 30-share index, which had lost about 122 points in the opening trade, was quoting 62.87 points, or 0.21 per cent lower at 29,911.37 soon after the RBI announced its first bi-monthly monetary review of this fiscal. However, it hiked the reverse repo, or the rate it pays lenders, by 0.25 per cent to 6 per cent, thus narrowing the policy corridor.

Sensex ended down at 29,927 points, down 0.16% from the previous close, whereas Nifty squared losses to close at 9,262 points, down 0.03% from its previous close.

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At the National Stock Exchange (NSE), the broader 51-scrip Nifty, which had closed at 9,265.15 points, was quoting at 9,230.40 points, down by 34.75 points or 0.38 per cent. However, the market breadth remained positive as 1,469 stocks ended higher, 1,413 declined, while 137 ruled unchanged. "With no major surprises from RBI, markets stabilised, but will await the NPA resolution measures that are widely expected shortly".

Among the BSE sectoral indices, Realty index closed with the biggest gain, up 2 per cent. Oil & Gas (up 0.7 per cent), Power (up 0.7 per cent) and Metal (up 0.4 per cent) indices were other notable gainers.

"Q4 numbers should take centre-stage from here on, but global cues could also hold sway in the coming days, specially with US markets beginning to show vulnerability ahead of (US) NFP (non-farm payroll) jobs data".

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HDFC Securities said, "Indian equity markets are likely to open on a flat to negative note following Asian cues".

Sector-wise, the S&P BSE consumer durables index plunged by 100.78 points, followed by the healthcare index, which dipped by 98.18 points, and the FMCG index, which fell by 73.47 points.

BSE Sensex on Thursday ended in red as it fell 63 points at 29,911.37 after RBI policy meet.

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The Nikkei Composite Purchasing Managers' Index rose to 52.3 in March from 50.7 in February.

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