How is the market faring? (as of 12:47 pm)
Market continues to trade in the red, erases recovery gains.
The market continues to trade in the red with the BSE Sensex trading at 34,903 points and the NSE Nifty trading at 10,587 points ahead of the RBI policy meet outcome. Idea Cellular continues to tank 7%. The market had recovered slightly in the noon, however, it has again slipped in trade with the Nifty below 10,600.
How is the market faring in the noon?
The market has recovered, though still trading in the red, with the BSE Sensex trading at 34,995 points and the NSE Nifty at 10,614 points, still struggling to reach a safe range of 10,600, as the RBI policy meet outcome is likely to hurt investor sentiment.
Some market experts say that the policy repo rate may be raised while the others say that the repo rate may be kept unchanged - both unfavourable for a bullish market.
How is the market faring? (as of 11:18 am)
Market slips further in trade, Sensex down 100 points.
The market is slipping further in trade with the Sensex trading at 34,872 points,slipping 139 points, while the NSE Nifty is trading at 10,572 points, failing to sustain the 10,600 mark. Idea Cellular is the top index loser of the hour, losing more than 7% in trade. Zee Entertainment, Bharti Airtel, Power Grid Corp and Axis Bank are the other top index losers of the hour.
How is the market faring? (as of 10:45 am)
The market is slipping in trade with the BSE Sensex trading at 34,908 points and the NSE Nifty trading at 10,586 points as the investors seem to be trading cautiously ahead of the RBI policy meet outcome. Some market experts say that the policy repo rate may be raised while the others say that the repo rate may be kept unchanged - both unfavourable for a bullish market. Idea Cellular and Coal India, both opening gainers, have now slipped in trade and are the top index losers. Idea Cellular is trading with more than a 7% loss while Coal India is losing more than 3% in trade.
The market opens flat as mixed global cues and the RBI policy meet outcome concerns keep the market in check.
The BSE Sensex opened at 35,067 points, while the NSE Nifty opened at 10,615 points.
The RBI policy meet outcome concerns are keeping the investors from being bullish as some experts say that there might be a repo rate hike, after four and a half years, or the rate will be kept unchanged.
BPCL is currently losing over 1% in trade as the global oil prices have risen.
Oil prices edged higher on Tuesday after falling nearly 2% in the previous session, but growing US production and expectations of higher OPEC supplies continue to weigh on sentiment.
Coal India, HCL Tech, Tech Mahindra, Idea Cellular and Bharti Infratel are the top index gainers of the hour, while Dr Reddy's Labs, Asian Paints, Yes Bank, Axis Bank and Bharti Airtel are the losers in the opening trade.
Idea Cellular is gaining in trade after the Department of Telecom approved it to raise foreign direct investment limit in the company to 100%.
First Published: IST