Sensex, Nifty Finish Lower Ahead Of RBI Meet

Sensex, Nifty Finish Lower Ahead Of RBI Meet

Mumbai: Markets turned weak in a choppy trade on Tuesday as cautious investors kept their powder dry ahead of the Reserve Bank of India's (RBI) policy announcement amid subdued macro cues.

At 6.30 am, Nifty futures on the Singapore Stock Exchange were trading 27 points, or 0.27 per cent lower at 10,133.50, indicating a negative start for the Nifty50 in India.

Negative global cues and weak Nikkei India services PMI data also weighed on sentiment. However, profit booking in banking and auto stocks capped gains.

On the NSE, 682 shares advanced, 1,072 declined, while 67 remained unchanged.

In the broader markets, the S&P BSE mid-cap index closed lower by 0.09 per cent and the small-cap index by 0.52 per cent. Although the central bank is widely expected to keep rates on hold, investors will watch for any hints of a cut at the February meeting in its statement.

Meanwhile, the Indian rupee opens higher at 64.30 per dollar against Monday's close of 64.37.

Sector-wise, Metal fell by 0.82 per cent, Realty 0.55 per cent, Auto 0.53 per cent, IT 0.51 per cent and FMCG 0.24 per cent.

On the other hand, the S&P BSE banking index surged by 108.78 points, oil and gas index was up 24.91 points and energy index by 23.70 points. "On the macro front upcoming RBI policy and Gujarat state election will be an influential factor for investors which is steering the market to consolidate", said Vinod Nair, head of research, Geojit Financial Services.

Tata Steel, Tech Mahindra, ONGC, Hero Moto Corp and Wipro fell around 2 percent in the Nifty pack, while Indus Ind Bank, Reliance Industries, Yes Bank, Bajaj Finance and SBI climbed 1-2 percent. Find us on Facebook too!