Sensex slips nearly 34 points on profit taking in oil, auto stocks

The benchmark BSE Sensex fell for a second straight session, on Monday, in a volatile trade due to profit-taking in oil, IT, and auto stocks ahead of the RBI policy announcement on Wednesday. The 30-share BSE benchmark shed 33.9 points or 0.05 per cent to settle at 62,834.60. During the day, it fell 346 points.

The broader NSE Nifty eked out marginal gains and ended 4.95 points or 0.03 per cent higher at 18,701.05.

Among the Sensex pack, Reliance Industries, Tech Mahindra, UltraTech Cement, Dr Reddy's, Axis Bank, Bharti Airtel, Bajaj Finserv and Mahindra & Mahindra were the major laggards.

Tata Steel, NTPC, SBI, IndusInd Bank and Power Grid were among the winners.  “The market continued its profit-booking trend as investors exercised prudence ahead of the RBI policy announcement.

Partially, it was due to increase in crude prices due to Opec decision not to cut output target, and ease in China’s Covid policy," said Vinod Nair, head of research, Geojit Financial Services.