Equity indices close slightly lower, banking stocks trim losses

Ivan Schwartz
December 6, 2017

The markets on Tuesday traded cautious the entire day as has been the case for the last couple of sessions.

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

The wider Nifty50 of the National Stock Exchange (NSE) edged lower by 9.50 points or 0.09 per cent at provisionally close (at 3.30 p.m.) at 10,118.25 points.

Market breadth was negative with 1,027 advances against 1,419 declines.

"Markets ended with marginal losses on Tuesday after a bounce back from the lows of 10,069 curbed the losses".

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After a two-day policy meeting, the RBI is widely expected to keep its policy rate on hold Wednesday, citing concerns about inflation.

Data released during market hours revealed that the Nikkei Services purchasing managers' index in November fell to 48.5 points - the lowest since August - from 51.7 the previous month. It finally closed at 32,869.72, up 36.78 points, or 0.11 per cent.

Meanwhile, the Indian rupee opens higher at 64.30 per dollar against Monday's close of 64.37.

After a strong start at 32,968.02, the Sensex reclaimed the 33,000-mark to hit a high of 33,008.62 points but profit- booking at higher levels capped the gains.

Biggest losers in the 30-share index were Hero Motocorp (2.31%), Wipro (2.29%), Tata Steel (1.71%), NTPC (1.70%), Dr Reddy'S Laboratories (1.61%), and Oil & Natural Gas Corporation (1.52%).

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