Sensex, Nifty Fall as RBI Interest Cut Impact Fades

Business

oi-Sunil

By Sunil Fernandes

Published: Friday, January 16, 2015, 9:46 [IST]

The Sensex and the Nifty fell in trade today as the impact of the RBI rate cut was overshadowed by weak global cues.

The Sensex fell 67 points in trade, while the Nifty was lower by 19 points after Thursday's super rally. Banking stocks saw some selling pressure on profit booking with PSU and private sector banks seeing profit booking. State Bank of India, ICICI Bank, Axis Bank, Bank of Baroda and Punjab National Bank were among the losers. DLF which had gained heavily on Thursday gave up some gains and was last trading 2 per cent lower.

TCS lost as much as 1.5 per cent following results that lagged estimates. Piramal Enterprises was trading higher by 3 per cent after reports that the company was mulling acquisition of US company Specialty Pharma CDMO, Coldstream Labs.

Mid cap stocks saw selling pressure with Voltas and Unitech among the losers.

Meanwhile, markets across Asia were trading with losses following weak overseas closings in the US. The Japanese Nikkei, the Hong Kong's Hang Sang were trading with losses, while the Shanghai Composite was higher.

GoodReturns.in