The Sensex opened with a positive gap of 25 points at 13,049, and moved up to a high of 13,076 in early deals. The index moved in a narrow range during the morning session, and slipped to negative zone after the Reserve Bank announced its quarterly credit policy review.
The central bank hiked repo rate by 25 bps to 7.25%, but left reverse repo rate and CRR unchanged at 6% and 5%, respectively.
The Sensex dropped to a low of 12,908 in noon deals before finally closing with a loss of 62 points at 12,962.
The Nifty closed at 3,744, down 25 points.
All the sectoral indices, except the BSE FMCG Index, declined today. The BSE Bankex was down 0.5% (34 points) at 6484. The BSE Teck Index declined 1.3% (43 points) to 3271. The BSE FMCG Index moved up 1.5% (30 points) to 2049.
The broad market mood was bearish - out of 2,581 scrips traded, 1,672 declined, 846 moved up and 63 were unchanged today.
Index Movers & Shakers
Reliance Communications dropped nearly 4% (Rs 15) to Rs 379. Bharti was down over 2% at Rs 530.
Wipro slipped over 3% (Rs 17) to Rs 538. Infosys dropped 29 to Rs 2,095.
Tata Motors declined nearly 3% (Rs 24) to Rs 828. Bajaj was down Rs 48 at Rs 2,751.
HDFC Bank dropped over 2% (Rs 22) to Rs 1,003. ICICI Bank was down Rs 9 at Rs 777.
Satyam moved up over 2% to Rs 440. HLL gained over 2% to Rs 234. ONGC added Rs 11 to Rs 816. Hero Honda, L&T, ITC, Hindalco, Maruti and HDFC finished with gains today.
Value & Volume toppers
Jaiprakash Associates was the most active counter with a turnover of Rs 242 crore followed by Hindustan Zinc (Rs 208 crore), Tech Mahindra (Rs 164 crore), Tata Motors (Rs 98 crore) and Reliance (Rs 89 crore).
RNRL topped the volume chart with trades of over 1.55 crore shares followed by Silverline (72 lakh), Nandan Exim (66 lakh), Mysore Cement (54 lakh) and Morepen Labs (48 lakh).
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