Snapping four day gaining streak, the key domestic benchmarks ended lower on Tuesday, weighed down by losses in rate sensitive auto and realty stocks, as investors resorted to profit booking ahead of the RBI policy review due tomorrow. The industry is expecting at least 25 basis points reduction in the policy interest rates as the demonetization has resulted in a windfall gains for the banks in the form of ultra-low cost funds.
The 30-share barometer index of Bombay Stock Exchange, Sensex closed at 8335.16, down by 104.12 points or by 0.37 per cent, and the NSE Nifty ended at 8768.3, down by 32.75 points or by 0.37 per cent.
During the day’s trade, the BSE Sensex touched intraday high of 28483.41 and intraday low of 28239.12, while the NSE Nifty touched intraday high of 8809.3 and intraday low of 8741.05.
Tata Motors fell over 3 per cent even after the auto major’s UK subsidiary, Jaguar Land Rover, reported strong January sales with total retail sales of 47,693 units, up 4 per cent on the prior year.
The top losers of the BSE Sensex pack were Tata Motors Ltd. (Rs. 506.80,-3.52%), Coal India Ltd. (Rs. 315.60,-2.88%), Oil And Natural Gas Corporation Ltd. (Rs. 193.30,-2.86%), Adani Ports & Special Economic Zone Ltd. (Rs. 303.85,-1.86%), Lupin Ltd. (Rs. 1468.40,-1.73%), among others.
On the flip side, Infosys Ltd. (Rs. 944.75,+1.10%), Larsen & Toubro Ltd. (Rs. 1500.05,+1.02%), Maruti Suzuki India Ltd. (Rs. 6205.90,+0.89%), Asian Paints Ltd. (Rs. 996.80,+0.50%), Housing Development Finance Corporation Ltd. (Rs. 1405.75,+0.44%), were among top gainers on BSE.
On the sectoral front, metal and auto index emerging as top losers, falling as much as 1.25 per cent and 0.93 per cent respectively.
The market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 3182, shares advanced were 1423 while 1624 shares declined and 135 were unchanged.