Indian benchmark indices settled the day on a negative note today as traders preferred profit booking ahead of outcome of two-day monetary policy committee meeting that is due on Wednesday.
According to analysts, the Reserve Bank of India (RBI) will likely strike a less hawkish tone while leaving interest rates unchanged at a policy meeting tomorrow, as inflation is running well below forecasts, and the economy has slowed more than expected.
The 30-share barometer index of Bombay Stock Exchange, Sensex closed trade at 31190.56, down by 118.93 points or by 0.38 per cent, and the NSE Nifty ended at 9637.15, down by 37.95 points or by 0.39 per cent.
During the day’s trade, Sensex touched intraday high of 31430.32 and intraday low of 31172.55, while the NSE Nifty touched intraday high of 9709.3 and intraday low of 9630.2.
Major laggards on the D-street included, Tata Motors Ltd. (Rs. 460.90,-3.58%), NTPC Ltd. (Rs. 158.25,-2.65%), Oil And Natural Gas Corporation Ltd. (Rs. 171.50,-2.28%), ITC Ltd. (Rs. 311.00,-2.05%), Larsen & Toubro Ltd. (Rs. 1775.80,-1.60%), among others.
However, some buying was witnessed in Tata Consultancy Services Ltd. (Rs. 2695.40,+3.63%), Infosys Ltd. (Rs. 979.45,+2.00%), Wipro Ltd. (Rs. 560.65,+0.91%), Dr. Reddy’s Laboratories Ltd. (Rs. 2550.35,+0.61%), Adani Ports & Special Economic Zone Ltd. (Rs. 361.85,+0.26%), among others.
On the sectoral front, consumer durables and power stocks emerged as major losers, falling as much as 2.01 per cent and 1.62 per cent respectively.
The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 3029, shares advanced were 1006 while 1846 shares declined and 177 were unchanged.