Sensex ends 67 points lower; Nifty settles at 10118

07 December, 2017, 03:52 | Author: Terri Saunders

At the close, the benchmark 30-share index, BSE Sensex lost 67.28 or 0.20% at 32,802.44 with 23 components posting drop. while the broad based NSE Nifty closed flat with a decline of 9.50 points or 0.09%, at 10,118.25 with 37 components registering drop.

Rate-sensitive stocks such as banking, realty and auto ended in the negative today after the RBI kept the policy unchanged leaving little scope for banks to lower interest rates on housing and auto loans.

Asian shares were trading lower, mirroring losses on the Wall Street.

Buying interest in index heavyweights like energy and IT sectors cushioned the losses.

The central bank kept the economic growth forecast unchanged at 6.7 per cent for the fiscal ending March 31.

According to market observers, investors traded with caution ahead of the outcome of the Reserve Bank of India's (RBI) two-day policy review meet on Wednesday. The broad based Nifty traded near 1-month low.

Provisional data with the exchanges showed that foreign institutional investors sold scrips worth Rs 1,470.56 crore while domestic institutional investors bought stocks worth Rs 1,074.39 crore.

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"The recent correction in PSU banks provides an opportunity for investors to accumulate as the long term prospects remains strong owing to healthy recapitalisation".

Selling pressure also gathered momentum in other stocks such as Sun Pharma, Tata Steel, Hero MotoCorp, Bajaj Auto, M&M, Adani Ports, Wipro, NTPC and L&T.

Bucking the trend, SBI topped the gainers list by rising 1.92%, while Bharti Airtel gained 1.18%.

The BSE bank index finished at 28,110.49, down 1.23 per cent.

The rupee's weakness against the dollar too dampened the overall mood.

Asian markets retreated, with Japan's Nikkei falling 0.37%, Hong Kong's Hang Seng declining 1.01% and Shanghai Composite Index finishing 0.18% lower. London's FTSE rose 0.16% in late morning deals.

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