Market Live: Nifty, Sensex fall as caution prevails ahead of RBI monetary policy meet

BSE Sensex and NSE Nifty trade lower. Photo: Hindustan Times

Mumbai: Both Sensex and Nifty on Wednesday developed cold feet ahead of the RBI policy announcement by slipping into the negative zone after a strong start. The monetary policy committee, which is widely expected to lower interest rates in the wake of cooling inflation, is set to announce its decision later in the day. Volatility took hold as indices like metal, capital goods and FMCG saw investors taking off profit while consumer durables, realty and energy counters witnessed buying interest.

The Sensex hit an all-time high at 32,686.48. The broader Nifty was also down. The big losers included Bajaj Auto 1.12%, along with Asian Paints, Dr Reddy’s and ONGC. Foreign portfolio investors (FPIs) sold shares worth a net Rs945.83 crore on Tuesday, as per provisional data. Domestic institutional investors (DIIs) net bought shares of Rs1,390.65 crore. Most Asian indices rose, helped by strong results from Apple. US stocks closed higher yesterday and the Dow Jones Industrial Average racked up a fifth straight record high. Here are the latest updates and developments from the markets.

12.15pm: Tata Motors, BajajAuto, Asian Paints, ONGC and DrReddy’s trade in negative with losses to the tune of 0.93%, 1%, 1.05%, 1.08%, and 1.18%, respectively.

11.45am: BSE Sensex trades lower by 33 points, or 0.10%, to 32,543, while the Nifty 50 falls 17 points, or 0.17%, to 10,097. Metal and FMCG stocks fall. BSE metal index declines by 0.88%, and BSE FMCG index falls by 0.56%.

11.00am: BSE Sensex trades lower by 29 points, or 0.09%, to 32,546, while the Nifty 50 falls 17 points, or 0.16%, to 10,098. Bajaj Auto and Asian Paints fall by 1.10% and 0.84%, respectively.

■ 9.35am: BSE Sensex trades higher by 32 points, or 0.10%, to 32,607, while the Nifty 50 rises 5 points, or 0.05%, to 10,120. Here are the latest updates

■ 9.30am: Reliance Defence and Engineering Ltd fell 2.7% to Rs60.30 after the company reported a loss of Rs230.42 crore in June quarter against Rs134.50 crore a year ago.

■ 9.25am: Hindustan Copper Ltd fell 7% to Rs65.70 . The government will sell 3.70 crore equity shares in Hindustan Copper Ltd (HCL) at a floor price of Rs64.75 apiece through a two-day offer-for-sale (OFS) beginning Wednesday, with an option to issue a similar number of shares in case of over subscription.

■ 9.20am: Gujarat State Fertilizers & Chemicals Ltd rose 3.4% to Rs139.90 after the company said it has re-started its Ammonia-IV plant. Bajaj Auto Ltd fell 0.6% to Rs2,807.45 after the company reported 6.7% decline in its July month sales to 3.07 lakh units.

■ 9.18am: Marico Ltd fell 1.7% to Rs320.70 after the company reported an 11.9% decline year-on-year in net profit for the first quarter as wholesale, rural, and Canteen Stores Department (CSD) channels de-stocked in the weeks before implementation of the goods and services tax (GST) on 1 July, affecting sales volumes.

■ 9.15am: The rupee opened at 64.12 a dollar. At 9.15am, the rupee was trading at 64.13 a dollar, down 0.06% from its Tuesday’s close of 64.19.

■ 9.10am: Lupin Ltd rose 1.4% to Rs1,032 after US drug regulator approved generic lidex ointment. Hero MotoCorp Ltd rose 1.4% to Rs3,772 after the company reported 17% increase in its July sales to 6.23 lakhs units.

■ 9.05am: The 10-year bond yield was at 6.445%, compared to its previous close of 6.442%. Bond yields and prices move in opposite directions.

■ 9.00am: Asian currencies were trading lower. South Korean won was down 0.31%, Taiwan dollar 0.23%, Singapore dollar 0.18%, Japanese yen 0.17%, Thai Baht 0.13%, China renminbi 0.12%, Philippines peso 0.1%, Indonesian rupiah 0.04%.

With inputs from PTI

First Published: Wed, Aug 02 2017. 09 41 AM IST

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