Sensex slips a tad ahead of RBI policy move

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

Investors were awaiting RBI policy outcome due later in the day during market hours, a broker said.

"Markets ended with marginal losses on Tuesday after a bounce back from the lows of 10,069 curbed the losses. Broad market indices like the BSE mid-cap index ended with gains, thereby outperforming the main indices", Jasani added.

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.

The BSE bank index finished at 28,110.49, down 1.23 per cent. The central bank is widely expected to keep policy rates unchanged tomorrow and will stay focused on controlling inflation, experts said.

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Foreign portfolio investors (FPIs) sold shares worth a net Rs 1,470.56 crore on Tuesday, as per provisional data.

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

Public sector banks were the most hit after RBI's policy as Nifty PSU bank index was tradin at 3,762.40 down 70 points or 1.82%.

Major Sensex gainers on Tuesday were: State Bank of India, up 1.92 per cent at Rs 319.30; Bharti Airtel, up 1.18 per cent at Rs 490.50; Reliance Industries, up 1.11 per cent at Rs 911.50; Sun Pharma, up 0.52 per cent at Rs 523.65; and ICICI Bank, up 0.38 per cent at Rs 305.40.

Other losers included Tata Steel, NTPC, Dr Reddy's, ONGC, Power Grid, Bajaj Auto, L&T, M&M, Asian Paints, HDFC Bank, HUL, Lupin, Coal India, ITC, Tata Motors, Axis Bank, Maruti Suzuki and Infosys, falling by up to 1.71 per cent.

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