Markets slip post RBI policy review

The Reserve Bank of India today left the key rates unchaged. Repo rate remains unchanged at 8.75%.

The Sensex has dipped further to 17,782 - down 136 points. Nifty is down 45 points at 5,418.
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(Updated at 0936 hrs)

The markets have opened on a quiet note ahead of the key events – Economic Survey, Monetary Policy – due today and the Union Budget presentation tomorrow. The Sensex touched a low of 17,815 and is now down 92 points at 17,827. Nifty is down 28 points at 5,435.

Overnight, the Dow Jones industrial average rose 0.1 per cent to 13,194 and the Standard & Poor's 500 Index slipped 0.1 per cent to 1,394 levels.

Asian shares eased on Thursday on renewed concerns about Chinese growth, but a brighter global economic outlook underpinned the dollar and kept investor risk appetite intact. Japan's benchmark Nikkei average opened up 0.7 per cent at 10,115.40 on Thursday, while the broader Topix gained 0.6 per cent to 863 levels.

Most of the sectoral indices are in the red with the metal index shedding 1.6% at 11,740. BSE realty index, capital goods, and consmer durables indices have slipped over 1% each.

Coal India has shed 3% to Rs 339. Hindalco, Sterlite and BHEL have shed 2% each. DLF, ONGC and Tata POwer are also in the negative zone.

Meanwhile, TCS has added 0.8% at Rs 1,165. Hindustan Unilever, Reliance and NTPC have advanced 0.6% each.

Japan's Kobe Steel is planning to buy a small stake in steel pipemaker Man Industries. The stock has surged 3.5% at Rs 124.

Punj Lloyd has bagged a contract for mechanical works worth about RS 153 crore from Singapore's SK Engineering and Construction Co. However, the stock has dipped 1.7% at Rs 58.

Reliance Communications and Reliance Power will move out of the National Stock Exchange's 50share Nifty index with effect from April 27, and would be replaced by Asian Paints and Bank of Baroda.  RCom has dipped 3%, while Reliance Power has slipped 2.5%. On the other hand, Asian Paints is up 2% and Bank of Baroda has risen 1% in trades.