Sensex extends losses as RBI holds policy rate

Sensex fell 151 points, or 0.46%, to trade at 32,652 points, while Nifty 50 shed 49 points, or 0.49%, to trade at 10,069 points at 2.39 pm. The broader NSE Nifty too slipped by 9.50 points, or 0.09 per cent, to end at 10,118.25, after moving between 10,069.10 and 10,147.95.

"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.

Market breadth was in the favour of gainers, with about 2 stocks advancing to every 1 stock that declined.

MSCI's broadest index of Asia-Pacific shares outside Japan inched down 0.2 per cent. The gauge had lost 67.28 points in the previous session. The central bank is widely expected to keep policy rates unchanged tomorrow and will stay focused on controlling inflation, experts said.

Alphageo India fell about 1 percent after reporting a net loss of Rs 3.4 crore for the September quarter.

On the currency front, the rupee closed nearly flat at 64.38-39 against the USA dollar from its previous close at 64.37-38.

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. Analysts believe that investors are more cautious ahead of the RBI decision, guarding against another downturn like the one last week which saw Sensex losing more than 700 points in a couple of days. U.S. stock ended lower yesterday, driven by losses in utilities, telecoms and industrials sectors.

Major losers were SBI, ICICI Bank, HDFC Bank, Axis Bank, HDFC Ltd, Maruti Suzuki, Bajaj Auto, Hero MotoCorp, Tata Steel, ITC Ltd and Wipro.

Related News: