Sensex paints gloomy picture before RBI policy, falls 100 points

The 30-share Sensex opened on a negative note on across-the-board losses and touched a low of 32,682.52

The 30-share Sensex opened on a negative note on across-the-board losses and touched a low of 32,682.52

The Sensex is trading at 31,740.12 points down by 62.32 points or 0.19 per cent from its Tuesday's close at 32,802.44 points.

Weak Asian cues as technology stocks tracked a sell-off in their United States counterparts that saw the Nasdaq tumbling over 1 per cent overnight, weighed on the sentiments, brokers said.

PSU Bank stocks too recovered from the previous session's losses, and Nifty PSU bank index ended 1.25 per cent higher at 3,798.55. All the sectoral sub-indices finished firmly in the green with the Nifty Metal index, which has been on a sticky wicket off late, gaining nearly 2 per cent during the day.

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Sector-wise, Infra rose by 2.69 per cent, followed by Auto 1.95 per cent, Metal 1.82 per cent, Media 1.39 per cent, Energy 1.37 per cent, PSU Bank 1.25 per cent, FMCG 0.88 per cent, Private Bank 0.85 per cent, Bank 0.83 per cent, IT 0.80 per cent, Finance Service 0.78 per cent and Pharma 0.25 per cent.

The 30-share index was trading lower by 78.86 points or 0.24 per cent at 32,723.58 at 1045hrs.

In the eurozone, key indices such as Paris CAC 40 and Frankfurt's DAX were up by 0.32 per cent and 0.55 per cent in their early deals.

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A total of 12,805.11 lakh shares changed hands in 99,19,432 trades.

The RBI's two-day monetary policy review kicks off today and the decision is due tomorrow. Most Asian shares declined as USA policy uncertainty kept sentiment in check.

Out of 1,989 stocks traded on the NSE, 1,219 advanced, 474 declined and 296 remained unchanged today. "A sharp fall in oil prices in global commodities market yesterday (Wesdnesday) also boosted market sentiments", Deepak Jasani, Head, Retail Research, HDFC Securities, told IANS.

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