Sensex slips 108 points ahead of RBI meet, on Asian cues
The benchmark BSE Sensex fell over 108 points in opening trade following a cautious stance adopted by participants ahead of the RBI policy review amid weak Asian cues.
The 30-share index fell by 108.10 points, or 0.32 %, to 32,761.62 as power, metal, infrastructure, capital goods, IT, teck, banking and auto stocks declined.
The gauge had gained 36.78 points in the previous volatile session.
The NSE Nifty too was quoting 28.30 points, or 0.27 %, down at 10,099.45.
The RBI's two-day monetary policy review kicks off today and the decision is due tomorrow. This has led to selling by investors, which added to the negative mood.
Weak Asian cues as technology stocks tracked a sell-off in their US counterparts that saw the Nasdaq tumbling over 1 % overnight, weighed on the sentiments, brokers said.
Major losers that dragged down the key indices include Adani Ports, NTPC, Tata Steel, Power Grid, Bajaj Auto, Wipro, Coal India, Hero MotoCorp, HDFC Bank, ONGC, L&T, Dr Reddy's and SBI.
Among other Asian markets, Hong Kong's Hang Seng was down 0.39 % while Japan's Nikkei shed 0.42 % in early session today. Shanghai Composite Index too shed 0.02 %.