Markets Marginally Lower Ahead of RBI Credit Policy

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Markets were trading marginally lower ahead of RBI's Credit Policy to be unveiled later today. The Sensex was trading with losses of 25 points, while the Nifty fell 9 points in trade. Leading the set of gainers from the Nifty were stocks like Bhel, Cipla and ONGC.

Infosys dropped to Rs 2145 after the stock went ex-bonus today. The stock was the top loser from the Nifty today. Tata Motors was trading marginally lower after its November auto sales grew 2 per cent y-o-y to 41,720 units against 40,863 units in November 2013. This was slightly better than expected.

Markets Marginally Lower Ahead of RBI Credit Policy
Banking stocks were a clear drag on the Nifty with ICICI Bank, HDFC Bank and IndusInd Bank among the losers.

Steel stocks saw some buying traction with Jindal Steel, Sesa Sterlite and Tata Steel among the early gainers.

Hero Motor Corp was trading marginally lower after the company reported 3 per cent year-on-year (y-o-y) jump in its auto sales for the month of November to 5.47 lakh units.

Mid cap stocks also saw some selling pressure with Crompton Greaves, Power Finance and Unitech seeing some selling pressure.

Oil marketing company stocks which have rallied substantially on falling crude prices lost ground today and were trading lower.

Meanwhile, markets across Asia were trading with losses after weak overnight closings across Europe and the US.

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