INSUBCONTINENT EXCLUSIVE:
The SP BSE Sensex and the NSE Nifty 50 Index rose for fourth session in a row but capped gains as investors turned cautious ahead of Reserve
Bank of India's three-day policy meet
Upside in equity markets was capped as gains in HDFC Bank, IndusInd Bank and Maruti Suzuki were offset by losses in ITC, ONGC, ICICI Bank
The SP BSE Sensex rose 0.09 per cent or 34 points to 36,617 and the NSE Nifty 50 Index advanced 0.2 per cent or 22 points to
10,934.According to a Reuters poll of 65 analysts, two-thirds have said the Reserve Bank of India (RBI) would hold its repo rate, a surprise
change of stance following the appointment of Shaktikanta Das as the central bank chief in December
The central bank will start its three-day policy meet later in the session.The 'neutral' stance would be in line with Prime Minister
Narendra Modi-led Bharatiya Janata Party's aim for a stimulative monetary policy ahead of national elections in May.The RBI's mandate is to
control price pressures, which historically have been difficult to tame in India.Fourteen of 19 sector gauges compiled by BSE ended lower
led by the SP BSE Realty Index's over 2 per cent decline
On the other hand, the SP BSE SP BSE Consumer Durables Index was top gainer, up 1.5 per cent.Mid- and small-cap shares underperformed their
larger peers as the SP BSE MidCap Index fell 0.54 per cent and the SP BSE SmallCap Index declined 0.9 per cent.Zee Entertainment was top
gainer from the Nifty 50 basket of shares, it rose 5 per cent to Rs 365
Reddy's Labs and Her MotoCorp were also among the gainer
On the other hand, Coal India was top loser, down 2.8 per cent to Rs 216
Tata Motors, Tata Steel, Yes Bank and ONGC also ended with losses.The overall market breadth was bearish as nearly 1,700 shares ended lower
while a little over 850 shares ended higher on the BSE.(With inputs from Reuters)
