Sensex and Nifty falls marginally ahead of RBI interest rate outcome

Oscar Cross
December 8, 2017

The broader NSE Nifty closed 0.09 percent lower at 10,118.25 while the benchmark BSE Sensex ended 0.2 percent lower at 32,802.44.

According to market observers, robust buying in auto, consumer durables and capital goods stocks lifted the benchmark indices.

On the NSE, 1,273 shares advanced, 473 declined, while 60 remained unchanged.

The gauge had tanked 891.50 points in the previous four sessions as upbeat second quarter GDP numbers failed to dispel concerns over a widening fiscal deficit. Investors seemed to be bargain buying after the recent fall. Positive opening in European shares boosted investors' sentiment in the domestic market.

The 30-share index was trading lower by 78.86 points or 0.24 per cent at 32,723.58 at 1045hrs.

Major Asian indices closed higher.

On Wednesday, the Sensex had slumped over 200 points after the RBI monetary policy committee chose to hold the policy repo rate and raised the inflation forecast for the rest of the current fiscal year to 4.3-4.7 per cent. However, RBI reiterating an economic growth of 6.7 per cent for FY18 uplifted the sentiment.

The rupee fell by 8 paise to Rs 64.46 per dollar in late morning deals following sustained dollar demand from importers and banks.

Other gainers were Asian Paints, Maruti Suzuki, Tata Steel, Bajaj Auto, NTPC, L&T, ICICI Bank, HUL, SBI, Tata Motors, Lupin, Adani Ports, Hero Motocorp, Power Grid and Infosys, rising by up to 3.29 per cent.

Reliance, Wipro, Sun Pharma, TCS and Infosys were under selling pressure.

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