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Markets snap six-day winning streak; all eyes on RBI decision

Domestic investors are cautious about the outcome of some state elections.

Markets snap six-day winning streak; all eyes on RBI decision

New Delhi: Snapping its six-day winning streak, Markets ended red on Tuesday in tandem with global markets.

Investors are also curiously waiting forthe Reserve Bank of India (RBI) monetary policy decision, scheduled for Wednesday.

The BSE Sensex dropped 106.69 points or 0.29 percent to close at 36,134.31; Nifty down 14.25 points or 0.13 percent to 10,869.50.

Finance and banking stocks traded over 0.50 per cent lower, while selling pressure was witnessed in telecom, auto and FMCG stocks. In contrast, buying was seen in IT, which gained over 1 percent. Oil and gas also ended higher.

Sun Pharma remaind the worst loser in the Sensex pack for the second day in a row after report that regulator Sebi may reopen the insider trading case against the company.

Other laggards included M&M, HDFC, SBI, NTPC, IndusInd Bank, HDFC Bank, HUL, Yes Bank, Asian Paints and Axis Bank.

While, ONGC, Infosys, Wipro, Vedanta, TCS, Coal India, Bajaj Auto, PowerGrid, Bharti Airtel, and Tata Steel were the top gainers, rising up to 2.52 percent.

On a net basis, foreign portfolio investors (FPIs) bought shares worth Rs 293.12 crore Monday, while domestic institutional investors (DIIs) were net sellers to the tune of Rs 806.45 crore, provisional data available with the BSE showed.

With Agency Inputs