Continuing the last week’s despair, market today started the F&O expiry week on a negative note ahead of RBI's second quarter monetary policy review slated for tomorrow. Today’s fall was the fifth straight fall for the benchmark indices back to back as investors largely remained cautious ahead of the RBI police meet. Though the broad-based index Nifty failed to hold above the 6150 level and remained below throughout the day after sliding down in very first hour of trade, but still managed to end the day above another key mark of 6100 by closing at 6101.10, down by -0.71% or 43.80 points. Sensex also plunged by 113.24 points and wrapped up the session at 20570.28, down -0.55%.
Amid this continuing five day downtrend, today volatility was also high as market participants seemed direction-less on whether to roll over their positions in the F&O segment as contracts are in the cusp of expiry. As per analysts, participants in the market are largely expecting a repo rate hike as RBI governor Raghuram Rajan's focus remains to be inflation. Today’s closing levels of the indices mark its lowest close in nearly one and a half weeks, as lenders and other interest rate-sensitive shares declined ahead of the central bank's monetary policy review on Tuesday.
All the sectoral indices faced the heat of uncertainty hovering over monetary policy review and ventured in red zone except CNX Energy which inched marginally higher (0.03%) than the previous close. Among the losers, CNX PSU Bank led the southward journey by plunging -2.98% and chased by CNX FMCG (-2.57%), CNX Realty (-2.38%), CNX Media (-1.76%), CNX Metal (-1.56%), CNX Consumption (-1.27%), CNX MNC (-1.14%), Bank Nifty (-1.13%) and CNX Pharma (-1.01%).
Market breadth remained negative today as 390 stocks on NSE rose against 773 declined while 49 remained unchanged.
Out of 50 stocks of Nifty index, 13 advanced against 37 declined.
Top Five Nifty Gainers: Larsen & Toubro topped the Nifty Gainers chart and registered 1.89% gain and joined-in by ONGC (1.51%), HDFC (1.49%), Wipro (0.56%) and Kotak Bank (0.51%).
Top Five Nifty Losers: J P Associates shed the most on Nifty losers list falling by -5.36% and followed by Bank of Baroda (-4.42%), ITC (-3.93%), PNB (-3.74%) and SSLT (-3.63%).
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