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Sensex, Nifty slip from life high post RBI policy review
Stay tuned here for latest updates on Indian markets, including BSE Sensex, NSE Nifty, Indian rupee and MCX gold.
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Stay tuned here for latest updates on Indian markets, including BSE Sensex, NSE Nifty, Indian rupee and MCX gold.
The 30-share flagship index, which had retreated from record highs in late morning trade, slipped to a low of 32,394.89 post the RBI policy announcement before ending down 98.43 points, or 0.30 percent, at 32,476.74.
However, it slipped to a low of 10,054.20 and settled down 33.15 points, or 0.33 percent, at 10,081.50.
The broader Nifty also slipped from record by falling 33.15 points at 10,081.50 as investors took profit at record levels. Brokers said the decision to lower the policy rate to 6 percent was largely in line with market expectations.
Sensex slipped from life highs to end over 98 points lower at 32,477 after two straight record-setting sessions as RBI's decision to lower the policy rate to 6 percent failed to cheer investors.
Performance of BSE 50 stocks
Early gains were reversed as investors booked profits in stocks such as Hindalco and Vedanta Ltd , down as much as 1.4 percent each, after two consecutive sessions of gains.
Bajaj Auto Ltd was down as much as 1.3 percent after reporting a 6.7 percent fall in total sales for July.
Meanwhile, Hero MotoCorp Ltd led gains, rising as much as 3 percent to its highest since June 20 after the two-wheeler maker on Tuesday reported a 17.1 percent jump in July sales.
The broader NSE Nifty was down 0.14 percent at 10,100.70 as of 11:23 Pm, while the benchmark BSE Sensex was 0.06 percent lower at 32,555.70.
Both indexes had risen in four out of the last six sessions.
Top 10 losers on NSE
Top gainers on NSE
Asian technology stocks hit 17-year peaks as blockbuster earnings from Apple rippled out to component makers globally, helping offset a pullback in the energy sector.
Shares in the world`s most valuable company surged 6 percent after hours to a record of more than $159, taking its market capitalisation above $830 billion.
That should help carry the Dow through the 22,000 mark when trading resumes in New York. E-Mini futures for the Dow were up 0.2 percent in Asia trade.
The rupee edged down by 5 paise to 64.12 against the dollar today as the latter found buying traction among importers ahead of RBI policy decision.
Yesterday, the rupee had racked up strong gains to end at a fresh two-and-a-half month high of 64.07 against the US currency, appreciating by 12 paise on heavy dollar selling amid expectations of a rate cut by the Reserve Bank.
Traders said the widening of bets by investors and funds on expectations that the Reserve Bank might lower key interest rates at its bi-monthly monetary policy review, to be released later in the day, gave buying more push.
The 30-share Sensex spurted by 111.31 points, or 0.34 percent, to hit a new peak of 32,686.48, breaking its previous intra-day record of 32,672.66 hit on July 27.
On the other hand the broader 51-scrip Nifty at National Stock Exchange NSE opened at 10,136.30 points.
Stock markets opened on a positive note during the morning session of the trade as rate cut hopes lifted markets to record high.
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