Sensex slips a tad ahead of RBI policy move

Dec 08, 2017, 01:41
Sensex slips a tad ahead of RBI policy move

The Nifty soared 122.60 points, or 1.22 per cent, on Thursday to close at 10,166.70 after shuttling between 10,182.65 and 10,061.90.

The broader Nifty of National Stock Exchange (NSE) too ended above the key 10,100-mark.

The Sensex of the BSE after opening at 32,798.50 points touched a high of 32,804.75 and a low of 32,702.37 points.

Market breadth was positive with 1,614 advances against 542 declines.

The gauge had gained 36.78 points in the previous volatile session. Investors seemed to be bargain buying after the recent fall.

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The domestic unit opened lower at 64.44 per dollar against Tuesday's closing level of 64.38 per dollar at the interbank forex market.

"Technically, while the Nifty has bounced back smartly, the underlying trend remained down".

The index had lost 205 points on Wednesday after the Reserve Bank held the policy rate and raised the inflation forecast for the remainder of the financial year.

Major Asian indices closed higher.

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

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"Upcoming state election in Gujarat and rupee movement against dollar ahead of USA tax reform will be keenly watched for further momentum in the market".

All the BSE sectoral indices closed in the green, led by telecom, consumer durables, power, capital goods, auto, oil & gas, and realty.

Aurobindo Pharma, Bajaj Auto, Tata Steel, Infratel, Maruti Suzuki, Asian Paints, UPL and Tech Mahindra climbed 3-5 percent.

Coal India (-0.7%), TCS (-0.6%), Cipla (-0.4%), and Wipro (-0.5%) were the top losers.

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