After closing at all-time high, Sensex trips 122 points ahead of RBI monetary policy
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Domestic investors were cautious ahead of RBI's monetary policy meet as the market benchmark Sensex retreated from record close by falling about 122 points in early trade on Thursday while Asian cues were muted on overnight losses in the US.
The 30-share index, which had gained 353.74 points in the previous three sessions, was trading 121.94 points or 0.40% lower at 29,852.30 with FMCG, banking, healthcare, metal and oil and gas sectors leading the fall. The NSE Nifty was also down by 38.25 points or 0.42% at 9,225.90.
Brokers said besides a weak trend in global markets after Federal Reserve meeting minutes suggested the US central bank was considering tightening monetary policy, caution ahead of Reserve Bank's monetary policy to be announced later in the day influenced the sentiment.
Bucking the trend, stocks of Bajaj Auto, Infosys, Axis Bank, Tata Motors, GAIL, NTPC and NTPC were trending higher by up to 1.55% as investors engaged in widening their bets. RIL too was higher by 0.71% at Rs 1,424.95.
Among other Asian markets, Japan's Nikkei was down 1.40% while Hong Kong's Hang Seng index fell 0.49% in early trade. Shanghai Composite Index, however, marginally up. The US Dow Jones Industrial Average ended 0.20% lower in Wednesday's trade.
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The district administration has already imposed prohibitory orders and barred the entry of outsiders into Sambhal till November 30.
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A day after violence rocked Uttar Pradesh's Sambhal, Leader of Opposition in the Lok Sabha Rahul Gandhi on Monday said the BJP's use of power to create a rift between Hindus and Muslims was neither in the interest of the state nor the country.
He also urged the Supreme Court to intervene in the matter as soon as possible.
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The Karnataka High Court has dismissed a petition seeking quashing of an FIR against two individuals accused of defrauding e-commerce giant Amazon of over Rs 69 lakh.
Justice M Nagaprasanna described the case as an example of modern age crime.
The petitioners, Sourish Bose and Deepanvita Ghosh, had sought to have the FIR and a magistrate court's order taking cognisance of the case set aside.
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India’s Adani Group said it has enough cash flows to service debt obligations, as it sought to reassure creditors after a US bribery probe against founder Gautam Adani triggered a selloff in the conglomerate’s stocks and bonds.
Cash balances exceed long-term debt repayments for the next 28 months, while portfolio level cash balances were at $6.33 billion, the port-to-power conglomerate said in a report for the first six months of the financial year ending March 2025 released Monday.
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