Nifty slips below 10,100 mark ahead of RBI policy

Nifty Market Trend
NSE BuidingEquity benchmarks extended losses with Nifty falling below 10,100 level, dragged by banking and financials ahead of RBI policy decision. Nifty Metal index fell close to 2% to be the biggest laggard among all NSE sectoral indices. The BSE Midcap index was down 0.07%, while the BSE Smallcap index rose 0.30%.

At 12:40 PM, Nifty50 was at 10,071, down 47 points or 0.47% from the previous close. The BSE Sensex was at 32,681, down 121 points or 0.37%.

Shares of metal and steel companies were the worst hit today because of a decline in global prices of industrial metals and steel. Shares of Hindustan Zinc, Hindalco Industries, Vedanta, Hindustan Copper, Tata Steel, Jindal Steel and Power, and National Aluminium Co fell 1-3%.

Reliance Ind (+1%), Tech Mahindra (+1.01%), HCL Tech (+0.58%), Cipla (+0.48%) and Coal India (+0.41%) were the top gainers on Nifty 50.

Hindalco (-2.9%), Vedanta (-2.6%), Tata Steel (-1.9%), SBI (-1.2%) and Bajaj Auto (-1.2%) were the top losers in today’s trade.

India VIX dropped 0.73%.

Out of 1,985 stocks traded on the NSE, 885 advanced, 725 declined, and 375 remained unchanged today.

A total of 51 stocks registered a fresh 52-week high in trade today, while 16 stocks touched a new 52-week low on the NSE.

Shares of Tata Communications rose 1% today after the company said that it has partnered with Thailand-based DRVR to provide mobility and internet-of-thing solutions to the fleet management application services provider.

Shares of Shilpa Medicare fell over 4.5% after the company informed that its formulations unit in Telangana has received a Form 483 with 10 observations.

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