Marketmen book profit ahead of RBI policy announcement

Indian markets traded weak on Tuesday after hitting four-month high on Monday. Market players booked profits due to which markets remained weak ahead of RBI’s monetary policy to be announced on Wednesday. Nifty was not able to hold the level of 8800.

BSE Sensex and Nifty indices declined 0.37 per cent each. At the closing bell, Nifty decreased 32 points to close at 8768 and BSE Sensex reduced 104 points to close at 28335. On the NSE, 15 shares closed in the green, while 36 shares ended the day in the red.

All sectoral indices closed in the red except indices of three sectors, viz. Capital Goods, Consumer Durables and IT. Auto reduced 207 points. Healthcare, Oil & Gas and Metals dropped more than 100 points each. Bankex decreased 40 points. However, Capital Goods increased 170 points. Mid-cap and Small-cap declined 23 points and 11 points, respectively.

Asian markets remained weak on Tuesday. Shanghai reduced 0.12 per cent. Hang Seng also decreased 0.07 per cent. However, KOSPI and Nikkei rose 0.12 per cent and 0.35 per cent, respectively. Taiwan’s TAIEX increased 0.17 per cent.

European markets were also trading in positive territory.

Derivative Analysis

Nifty future closed on the negative note at 8789. Going ahead, 8879/8736 will be the immediate support levels.