Sensex slips a tad ahead of RBI policy move

Nick Sanchez
December 8, 2017

The BSE Sensex hit a record high on Thursday as steps taken by the capital.

The 50-share NSE Nifty inched up 5.95 points, or 0.06 per cent, to 10,127.75 points.

Gas stocks ended higher.

The 30-share index was trading lower by 78.86 points or 0.24 per cent at 32,723.58 at 1045hrs.

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Stocks of state-run oil marketing companies such as HPCL, BPCL and International Olympic Committee recorded gains of up to 1.83 per cent after global crude prices dropped by almost three per cent to trade below $63 a barrel.

The index had lost 205 points yesterday after the Reserve Bank held the policy rate and raised the inflation forecast for the remainder of the fiscal.

Major index gainers were GAIL, Bharti Airtel, Tech Mahindra, UPL, Asian Paints, Maruti, Bharti InfraTel, Tata Steel and Bajaj Auto.

Firm global cues: Positive opening in European shares boosted investors' sentiment in the domestic market.

In the broader markets, the S&P BSE mid-cap index closed higher by 1.38 per cent and the small-cap index by 1.29 per cent.

"Upcoming state election in Gujarat and rupee movement against dollar ahead of USA tax reform will be keenly watched for further momentum in the market".

On the other hand, Reliance Industries (0.19%), and Coal India (0.17%) were the major losers in the Sensex. Japan's Nikkei advanced 1.45 per cent, Hong Kong's Hang Seng rose 0.29 per cent, while Shanghai Composite Index shed 0.67 per cent.

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