INSUBCONTINENT EXCLUSIVE:
RBI will release its fourth bi-monthly policy statement later in the day.The domestic stock markets cracked on Friday ahead of the outcome
34,760.57 and the Nifty50 of 10,445.10
The 30-share Sensex traded at 34,852.55, down 316.61 points or 0.90 per cent and the Nifty50 was at 10,478.60, with a loss of 120.65 points
Investors offloaded their positions tracking a selloff in global markets, brokers were quoted as saying in a report by news agency Press
Trust of India (PTI).Shedding between 2.55 and 12.33 per cent, ONGC, Vedanta, Adani Ports, Reliance Industries, and Mahindra and Mahindra
were the top Sensex laggards.Thirty-one out of 50 Nifty stocks traded with losses
Oil-marketing companies led the fall in the Nifty pack after they were asked to absorb Re 1 per litre in petrol and diesel price cut out of
a total of Rs 2.5 a litre announced by the government on Thursday
bulls is now placed near the 10,500 mark which offers strong support, said Dyaneshwar Padwal, AVP Technical Analyst, KIFS Trade Capital."The
bulls may take charge from that mark."RBI will release its fourth bi-monthly policy statement later in the day
Experts expect RBI to raise key interest rates for a third time since June to combat inflation.Meanwhile, MSCI's broadest index of
Asia-Pacific shares outside Japan fell 0.3 per cent, while Japan's Nikkei dropped 0.5 per cent and Australian benchmark was up just 0.1
per cent, according to a report by news agency Reuters.On Thursday, foreign portfolio investors sold while domestic institutional investors
purchased net equities worth Rs 2,760.63 crore and Rs 1,823.59 crore respectively
The Sensex had closed at 35,169.16 and the Nifty at 10,599.25
