High volatility was witnessed ahead of the outcome of the Monetary Policy Committee policy review, even though the India VIX gauge eased. Selling pressure seen in financial, IT and FMCG stocks reduced towards the end of the session. Weakness across US and Asian markets also added to the negative trend.
The 30-share pack Sensex declined 85.40 points or 0.16 per cent to close at 51,849.48, having moved in a range of 463.34 points during the session. Its broader peer NSE Nifty gained 1.35 points or 0.01 per cent to settle at 15,576.20.
“PSU banks attracted buyers in hopes the government will soon finalise the list for privatisation. In the policy, the RBI is expected to focus on economic growth by maintaining the status quo on policy rates and ensuring liquidity while keeping an eye on the inflationary pressure due to rising commodity prices,” said Vinod Nair, Head of Research at Geojit Financial Services.
Market at a glance:
- Emami Paper Mills hits upper circuit as company turns profitable
- Suzlon Energy jumps 10% as company bags 252 MW project
- Lupin gains 3% on heavy volume, crosses 4-year high
- Volatility gauge India VIX eases 1% despite wild moves in indices
- PSU banks shine; Nifty PSU Bank top gainer on NSE