Sensex, Nifty End Lower as RBI Keeps Policy Rates on Hold

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The Sensex and the Nifty ended the day lower as the Reserve Bank of India kept policy rates on hold. The Sensex ended the day lower by 115 points, while the Nifty ended the day lower by 31 points.

Banking stocks ended the day on a tepid note after the RBI did not oblige on the interest rate front. Stocks like IndusInd Bank, HDFC Bank and Yes Bank declined in trade.

Sensex, Nifty End Lower as RBI Keeps Policy Rates on Hold
Nifty stocks that lost ground were HDFC, Mahindra and Mahindra and Gail. Shares in Infosys was the top loser and the stock dropped almost two per cent as the shares went ex bonus today.

IDFC saw good buying support and the stock ended the day with good gains. Auto stocks were the clear losers in trade with stocks like Mahindra and Mahindra, Maruti Suzuki and Tata Motors among the losers.

Steel stocks saw some buying traction with Jindal Steel, Sesa Sterlite and Tata Steel among the early gainers. Oil marketing company stocks which have rallied substantially on falling crude prices lost ground today and ended the day lower.

Meanwhile, markets across Europe were trading with gains, while most of Asia ended the day with marginal losses.

Mid cap stocks were trading higher with most of the banks that form part of the index trading with gains.

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