Sensex trips over 100 points as selling pressure increases ahead of RBI’s MPC rate decision

BSE Sensex was trading down 0.31% at 34,904.64 on Tuesday. (Image: Reuters)

India’s share market fell in negative territory after starting on a flatter note on Tuesday with the key equity indices Sensex and Nifty hovering down as shares of L&T, HDFC, Infosys and HUL tripped lower. BSE Sensex was trading down 0.31% at 34,904.64 and NSE Nifty was trading 0.32% lower at 10,594.95 on Tuesday. All the sectoral indices of NSE were trading mixed with Nifty Realty and Nifty Media leading the losses. Today is the second day of the Monetary Policy Committee meeting of the Reserve Bank of India. Investors are keenly awaiting the outcome of MPC which is scheduled to be declared tomorrow, 6 June 2018, at 2:30 pm.

Shares of Reliance Industries (RIL), Coal India and HDFC Bank inched up a little and were the only notable gainers among the components of BSE Sensex while shares of Power Grid, Yes Bank, Dr Reddy’s, Bharti Airtel, L&T and Hero MotoCorp declined 1-2.5%. Shares of Balrampur Chini, Vakrangee, Bajaj Hindustan, Sunteck Realty and Biocon jumped up to 6% whereas shares of PC Jeweller, Radico Khaitan, Rain Industries, Infibeam Incorporation, Sterlite Technologies shed up to 8%. These 10 shares were the major movers among the ‘A’ group on BSE.

Wall Street’s three major indexes rose on Monday, led by a rally in tech stocks, pushing the Nasdaq to a record closing high as investors bet on a continuation of strong economic growth, while falling oil prices weighed on the energy sector, Reuters said in a report. Apple shares rose to their highest ever due to investor bets on its annual developers’ conference and Microsoft impressed with an acquisition, pushing the S&P 500 technology index to a record high, while led consumer stocks higher, the report added. The Dow Jones Industrial Average

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