Published: Thu, December 07, 2017
Markets | By Noel Gibbs

Sensex Slumps 111 Points to 32690, Nifty at 10070

Sensex Slumps 111 Points to 32690, Nifty at 10070

Both Sensex and Nifty tumbled over 180 points and 70 points respectively, right after the central bank's policy announcement. Benchmark Sensex was down by over 72 points or 0.22% to 32,730.30 while the wider Nifty was down by over 36 points or 0.36% to 10,081.50 during early morning trade on Wednesday.

Similarly, the NSE Nifty was trading lower by 78.70 points, or 0.77 per cent, at 10,039.55.

Buying interest in index heavyweights like energy and IT sectors cushioned the losses.

The BSE market breadth was bearish - 1,549 declines and 1,105 advances.

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The gauge had lost 67.28 points in the previous session.

The Reserve Bank of India's monetary policy committee is likely to keep the policy repo rate on hold on account of various factors, including likelihood of retail inflation nudging up due to higher prices of vegetables and protein items, rising crude oil prices, risk of fiscal slippage, and possibility of the US Fed upping interest rates.

Meanwhile, foreign portfolio investors offloaded shares worth net Rs 333.59 crore, while domestic institutional investors (DIIs) bought shares to the tune of Rs 776.18 crore on Tuesday, as per provisional data.

Among BSE sectoral indices, metal index fell the most by 1.97 per cent, followed by PSU 0.58 per cent, healthcare and banking 0.47 per cent each.

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Indian rupee was trading at 64.495 higher by 0.129 paisa or 0.20% against USA dollar.

Services sector activity slipped into the contraction territory during November, post the implementation of the Goods and Service Tax (GST) that led to sluggish demand and lower customer turnout, a monthly survey said.

The broader market depicted a mixed trend, with the BSE mid-cap ending up 0.41 per cent, while small-cap index finished 0.03 per cent down.

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

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