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Markets end weak ahead of RBI policy

Markets end weak ahead of RBI policy
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First Published: Mon, Apr 28 2008. 04 09 PM IST
Updated: Mon, Apr 28 2008. 04 09 PM IST
With an eye on Reserve Banks of India’s monetary policy due 29 April, the Indian markets ended marginally weak with the benchmark index ending the day at 17,015 levels - down 0.6% or 110 points.
The Sensex moved in a broad range of 17,042 - 17,251 levels in intra-day deals. In broader markets, the Nifty closed 22 points down at 5,089 levels.
In world markets, most Asian bourses rose on 28 April as investors’ confidence in the financial sector seeped back and the dollar held on to recent gains, despite oil hitting a fresh all-time high close to $120 a barrel.
Japan’s Nikkei stock average rose 0.2% to hit a two-month closing high led higher by financial plays such as Mitsubishi UFJ Financial Group that jumped on improving investor confidence in the sector.
In Hong Kong, stocks edged higher, helped by optimism that the US will cut borrowing costs this week. The Hang Seng index closed up 149.51 points at 25,666 levels.
Back home, leading the pack of losers among the BSE 30 scrips was Cipla. The stock skidded 4.1%. Ambuja Cements, ACC, Hindustan Unilever, Hindalco, ONGC, Maruti Suzuki, Reliance Industries, TCS Ltd, Wipro and Tata Steel also came under selling pressure.
Among sectoral indices, the BSE capital goods and oil and gas indices shed over 1% each. Profit booking was also visible in technology, metal, banking, auto and FMCG indices.
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First Published: Mon, Apr 28 2008. 04 09 PM IST
More Topics: Markets | Sensex | Nifty | BSE | NSE |