Caution over monetary policy review dents equity markets

Caution over the upcoming monetary policy review, along with lower global crude oil prices, dented the Indian equity markets during early morning session on Tuesday.

Consequently, the key indices trade marginally in the red, as heavy selling pressure was witnessed in fast moving consumer goods (FMCG), consumer durables and information technology (IT) stocks.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) inched down by 17.80 points or 0.20 per cent to 8,693.55 points.

The barometer 30-scrip sensitive index (Sensex) of the BSE, which opened at 28,289.22 points, traded at 28,143 .06 points (at 9.30 a.m.) -- down 39.51 points or 0.14 per cent from the previous close at 28,182.57 points.

The Sensex has so far touched a high of 28,289.96 points and a low of 28,116.03 points during the intra-day trade.

The BSE market breadth was tilted in favour of the bears -- with 781 declines and 761 advances.

On Monday, the key indices had closed in the green due to positive global cues, along with hopes of parliamentary approval for a major economic legislation.

The barometer index had gained by 104.22 points or 0.37 per cent to 28,182.57 points , while the NSE Nifty edged up by 28.20 points or 0.32 per cent to its highest closing levels in over 15 months at 8,711.35 points.

--IANS

rv/ksk