Benchmark indices were trading lower ahead of the RBI's Monetary policy due later at 11.00 am today. Sections of the market are expecting the Reserve Bank of India (RBI) to hold interest rates at the policy meet, but, despite this banking stocks have been higher in the last 2 trading sessions. Check Sensex gainers and losers here
Banking stocks were in action ahead of the RBI policy with stocks like State Bank of India, Punjab National Bank among the losers. ICICI Bank which has had a solid rally in the last few trading sessions gave up gains and was trading lower.
Shares in SUN TV which have rallied 50 per cent in the last few trading sessions saw selling pressure and the stock was down almost 4 per cent
Rate sensitives like real estate were also seeing some selling pressure ahead of the RBI policy. Shares of DLF and Unitech saw losses in early trade.
Meanwhile, markets across Asia were trading with marginal losses, with the Hong Kong's Hang Sang and the Strait Times trading with losses. However, the Shanghai Composite was among the gainers in trade.