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Sensex, Nifty Finish Lower Ahead Of RBI Meet

Indian shares finished marginally lower on Tuesday as investors looked ahead to the RBI monetary policy review and the first phase of Gujarat elections due this week.

After a two-day policy meeting, the RBI is widely expected to keep its policy rate on hold Wednesday, citing concerns about inflation.

The Nikkei India Services PMI for November signaled slowdown in demand, further weighing on sentiment.

The benchmark BSE Sensex dropped 67.28 points or 0.20 percent to 32,802.44 while the broader Nifty index ended down 9.50 points or 0.09 percent at 10,118.25.

Tata Steel, Tech Mahindra, ONGC, Hero Moto Corp and Wipro fell around 2 percent in the Nifty pack, while Indus Ind Bank, Reliance Industries, Yes Bank, Bajaj Finance and SBI climbed 1-2 percent.

Globally, Asian stocks closed broadly lower after oil prices fell over 1 percent overnight and Brexit talks did not yield a breakthrough on the withdrawal issues. Encouraging services sector data from China helped to limit regional losses to some extent.

European markets were mixed in early trade as investors monitored currency movements and looked ahead to further progress in Brexit talks and U.S. tax reform.

by RTT Staff Writer

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