Mkt keeps a low profile; Sensex loses 92 points
THE market topped the key 33,000-level multiple times on Tuesday, but closed below that threshold after rising inflation numbers squeezed the headroom for an interest rate cut at RBI’s policy review next month.
Not sure which way to move, the Sensex changed its course many a time during the day, before it settled at 32,941.87 -- a three-week low, down 91.69 points, or 0.28 per cent. The index had a fall of 281 points yesterday.
The broader 50-share NSE Nifty met with the same fate, dropping 38.35 points, or 0.38 per cent, to close at 10,186.60 after shutting between 10,248 and 10,175.55.
L&T bled the most, falling 2.46 per cent, followed by PowerGrid, Asian Paints, TCS and ONGC.
Hero MotoCorp, Axis Bank, Bajaj Auto and M&M counters, however, saw buying activity.
The loss in BSE capital goods was maximum at 1.41 per cent, followed by telecom, infrastructure and PSU. Share sale by Foreign Portfolio Investors (FPIs) was worth a net Rs 233.58 crore yesterday, a provisional data showed. Domestic Institutional Investors (DIIs) also let go of shares net Rs 268.77 crore.