After closing at all-time high, Sensex trips 122 points ahead of RBI monetary policy
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Domestic investors were cautious ahead of RBI's monetary policy meet as the market benchmark Sensex retreated from record close by falling about 122 points in early trade on Thursday while Asian cues were muted on overnight losses in the US.
The 30-share index, which had gained 353.74 points in the previous three sessions, was trading 121.94 points or 0.40% lower at 29,852.30 with FMCG, banking, healthcare, metal and oil and gas sectors leading the fall. The NSE Nifty was also down by 38.25 points or 0.42% at 9,225.90.
Brokers said besides a weak trend in global markets after Federal Reserve meeting minutes suggested the US central bank was considering tightening monetary policy, caution ahead of Reserve Bank's monetary policy to be announced later in the day influenced the sentiment.
Bucking the trend, stocks of Bajaj Auto, Infosys, Axis Bank, Tata Motors, GAIL, NTPC and NTPC were trending higher by up to 1.55% as investors engaged in widening their bets. RIL too was higher by 0.71% at Rs 1,424.95.
Among other Asian markets, Japan's Nikkei was down 1.40% while Hong Kong's Hang Seng index fell 0.49% in early trade. Shanghai Composite Index, however, marginally up. The US Dow Jones Industrial Average ended 0.20% lower in Wednesday's trade.
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