Nifty off 9,700-level; RBI policy eyed | business-news | Hindustan Times
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Nifty off 9,700-level; RBI policy eyed

The benchmark Nifty snapped its two-day winning streak and slipped 38 points to settle at 9,637 after hitting the psychological 9,700-mark for the first time in opening trade.

business Updated: Jun 06, 2017 18:53 IST
A broker reacts in Kolkata as Sensex and Nifty surge on Tuesday.
A broker reacts in Kolkata as Sensex and Nifty surge on Tuesday. (PTI)

The benchmark Nifty snapped its two-day winning streak and slipped 38 points to settle at 9,637 after hitting the psychological 9,700-mark for the first time in opening trade.

Participants preferred profit-booking mainly in FMCG, realty, infra, media, energy, auto stocks ahead of the outcome of two-day meet of the RBI Monetary Policy Committee tomorrow. Weakness in global stocks also weighed on sentiment.

In overseas markets, European stocks edged lower amid geopolitical worries. Investors took a cautious approach ahead of a general election in the UK and a European Central Bank (ECB) meeting.

Most Asian stocks dropped following the lower close on Wall Street yesterday and as markets digested the impact of diplomatic tensions between Qatar and other Middle Eastern nations.

The NSE 50-share Nifty index opened higher at 9,704.25 and hovered between 9,709.30 and 9,630.20 before finishing at 9,637.15, a loss of 37.95 points, or 0.39%.

It saw an intra-day movement of about 79.10 points.

Sector-wise, FMCG fell 1.41%, realty 1.37%, followed by infra 1.33%, media 1.20%, energy 1.09%, auto 1.08%, PSU banks 0.73%, pharma 0.60%.

However, IT was the lone gainer by 2.32%.

The broader markets declined, the mid-cap and small-cap indices fell by 0.53% and 0.72%, respectively.

Major index losers were Tata Motors (3.59%), NTPC (2.77%), Indiabulls Housing Fin (2.71%), Tata Motors (2.62%) and ONGC (2.45%).

While, HCL Tech rose by 3.58%, while other notable gainers were TCS (3.54%), Infosys (2.15%), Tech Mah (1.46%) and Wipro (0.90%).

A total of 1,161 scrips declined, 501 advanced, while 78 remained unchanged and total securities that hit their price bands were 129.

Turnover in the cash segment rose to Rs 22,177.61 crore, from Rs 20,992.61 crore yesterday.

A total of 9,973.34 lakh shares changed hands in 82,52,499 trades.

The market capitalisation of listed firms on the NSE stood at Rs 1,25,02,871 crore.