INSUBCONTINENT EXCLUSIVE:
The NSE Nifty index had closed above the 12,000 mark for the first time on Monday
Domestic stock
markets started Tuesday's session on a lower note, retreating from record levels, tracking declines in Asian peers
The SP BSE Sensex index fell as much as 137.62 points to 40,130.00 in early trade and the NSE Nifty moved to 12,042.90, down 45.65 points
The benchmark indexes opened lower and swung between gains and losses
Gains in metal and pharma shares were offset by weakness in information technology stocks
Analysts will closely watch the central bank's decision at the end of its ongoing bi-monthly policy review
Nifty down 24.20 points - or -0.20 per cent - at 12,064.35.Top laggards on the 50-scrip benchmark index at the time were Zee Entertainment,
NTPC, LT, Eicher Motors and PowerGrid - trading with advances of between 1.04 per cent and 2.07 per cent - were the top gainers on the Nifty
index.TCS, Infosys and ICICI Bank were the top drags on the Sensex
Strength in Larsen Toubro, ITC and Reliance Industries kept the losses in check.The Nifty IT index - comprising information technology
policy meeting on Thursday
Two-thirds of 66 economists polled by news agency Reuters expect the MPC to wrap up on Thursday by cutting the repo rate by 25 basis points,
but that survey was taken even before the government released far worse than expected economic growth numbers, so expectations for a cut
have probably hardened.The Reserve Bank of India's six-member monetary policy committee (MPC) can draw comfort from subdued inflation
Consumer has stayed below the RBI's medium-term target of 4 per cent for the past nine months.Losses across Asian equity markets followed
