Sensex slips 47 points as RBI holds policy rate

Sensex slips 47 points as RBI holds policy rate

Around 3 PM, BSE Sensex traded lower by 82 points, or 0.27%, to 29,892, while the Nifty 50 falls 28 points, or 0.31%, to 9,237.

However, in pre-market opening, Sensex touched 29,996-mark and Nifty a new high of 9,264-level.

Brokers said besides a weak trend in global markets after Federal Reserve meeting minutes suggested the USA central bank was considering tightening monetary policy, caution ahead of Reserve Bank's monetary policy to be announced later in the day influenced the sentiment. However, it hiked the reverse repo, or the rate it pays lenders, by 0.25 per cent to 6 per cent, thus narrowing the policy corridor. The central bank also raised the growth forecast for the current fiscal to 7.4% from 6.7% in 2016-17.

In terms of the broader markets, the S&P BSE mid-cap index closed higher by 0.15 per cent, whereas the small-cap index slipped by 0.23 per cent.

The Sensex was up by 64.02 points or 0.21 per cent at the Wednesday's closing.

A total of 895 shares ended with losses while 791 finished with gains while 64 ruled steady.

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Among other rate-sensitive counters, SBI tumbled 1.35 per cent while ICICI Bank fell 1.40 per cent. HDFC rose 0.47 per cent.

In contrast, the BSE market breadth was marginally bullish - with 1,476 advances and 1,403 declines.

Besides, profit booking after Wednesday's gains, coupled with negative global cues, hampered the upward movement of the key indices.

Investors also looked ahead to some key events this week, including the release of minutes of the latest Federal Reserve meeting later today, the U.S.

Globally, Asian and European stocks fell today as oil prices retreated from one-month highs and a private survey showed activity in China's service sector expanded at a slower pace for the third straight month in March. In the Asian region, Japan's Nikkei ended 1.40% lower, while Hong Kong's Hang Seng shed 0.52%.

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