Sensex edges lower; RBI keeps repo rate unchanged

Sensex edges lower; RBI keeps repo rate unchanged

Sensex edges lower; RBI keeps repo rate unchanged

The BSE realty index emerged the top sectoral gainer, rising 2% as shares of DLF, Unitech, Prestige Estates, Oberoi Realty, Sobha Ltd and Godrej Properties rose by up to 4.48%.

At 1.00 p.m., the 30-share BSE index Sensex was down 133.18 points or 0.44 per cent at 29,841.06 and the 50-share NSE index Nifty was down 40.7 points or 0.44 per cent at 9,224.45.

Besides, profit booking after Wednesday's gains, coupled with negative global cues, hampered the upward movement of the key indices.

On Wednesday, the NSE Nifty had closed at record-closing high, up 27 points or 0.30 per cent at 9,265. However, the market breadth remained positive as 1,469 stocks ended higher, 1,413 declined, while 137 ruled unchanged.

According to market observers, gains could have been higher had it not been for the monetary policy to be announced tomorrow.

The Reserve Bank on Thursday left the repo rate unchanged at 6.25 per cent.

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Asian markets fell, tracking losses on Wall Street after the Federal Reserve released its March Federal Open Market Committee (FOMC) minutes which was viewed as hawkish.

Anand James, Chief Market Strategist, Geojit Financial Services, said: "With no major surprises from RBI, markets stabilised, but will await the NPA (non-performing assets) resolution measures that is widely expected shortly". The BSE banking index, however, was trading little changed at 24,711.29 points on Thursday.

On the currency front, the Indian rupee strengthened by 36 paise to 64.52 against a USA dollar from its previous close of 64.88 to a greenback.

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.

The Sensex is trading at 29,852.61 points down by 57.61 points or 0.19 per cent.

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