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Sensex starts on a cautious note ahead of RBI policy meet; Nifty slips below 8550

At 09:20 a.m.; the 30-share index was at 28534.62, down 25 points or 0.09 per cent. It touched a high of 28536.64 and a low of 28474.09 in trade today.

ET Online|
Updated: Dec 02, 2014, 09.35 AM IST
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Sensex starts on a cautious note; Nifty slips below 8550
NEW DELHI: The S&P BSE Sensex started on a cautious note on Tuesday, ahead of Reserve Bank of India's monetary policy review due later in the day. The fall in the index was led by losses in Infosys, ICICI Bank, HDFC Bank, M&M and Bajaj Auto.

Tracking the momentum, the 50-share Nifty index also came under pressure and slipped below its crucial psychological support level of 8550, weighed down by losses in consumer durable, banks, IT and realty stocks.

At 09:20 a.m.; the 30-share index was at 28534.62, down 25 points or 0.09 per cent. It touched a high of 28536.64 and a low of 28474.09 in trade today.

The Nifty was at 8547, down 10 points or 0.10 per cent. It touched a high of 8548.35 and a low of 8529.65 in trade today.

Most analysts expect the central bank to maintain status-quo on key policy rates on Tuesday. According to an ET Now poll, almost 80 per cent of respondents expect RBI to hold key policy rates on Tuesday, while only 20 per cent of bankers expect a repo rate cut of 25 bps.

The S&P BSE Midcap Index was up 0.06 per cent and BSE S&P Smallcap Index edged lower by 0.02 per cent.

Cipla (up 1.2 per cent), ONGC (up 1.2 per cent), ONGC (up 1.2 per cent), Sesa Sterlite (up 1.01 per cent) and NTPC (up 0.82 per cent) were among the major Sensex gainers.

Bajaj Auto (down 1.7 per cent), Infosys (down 1.4 per cent), M&M (down 1.2 per cent), Hero MotoCorp (down 1.1 per cent) and ICICI Bank (down 0.63 per cent) were the major index losers.

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