Sensex and Nifty falls marginally ahead of RBI interest rate outcome

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Key Indian equity domestic indices- BSE Sensex and NSE Nifty opened on a negative note during early morning trade on Tuesday.

Trading was highly volatile throughout the session ahead of RBI's monetary policy review and Gujarat elections later this week.

The NSE Nifty too was quoting 28.30 points, or 0.27 per cent, down at 10,099.45.

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Any gains in domestic equities are also likely to be capped ahead of the Reserve Bank of India's policy meeting on Wednesday.

Among BSE sectoral indices, IT index gained the most by 1.37 per cent, followed by TECk 1.08 per cent, metal 0.5 per cent and healthcare 0.32 per cent.

Data released during market hours revealed that the Nikkei Services purchasing managers' index in November fell to 48.5 points - the lowest since August - from 51.7 the previous month.

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"All eyes are now on RBI policy outcome which takes place tomorrow".

On the currency front, the rupee strengthened by 9-10 paise to close at 64.37-38 against the United States dollar from its last week's close at 64.47. This has led to selling by investors, which added to the negative mood. On the other hand, realty index fell 0.54 per cent, power 0.41 per cent, banking 0.3 per cent and auto 0.21 per cent. "The recent correction in PSU banks provides an opportunity for investors to accumulate as the long term prospects remains strong owing to healthy recapitalisation".

Major Sensex losers were: Coal India, down 2.09 per cent at Rs 266.55; Maruti Suzuki, down 1.10 per cent at Rs 8,512.90; Asian Paints, down 1.02 per cent at Rs 1,124.50; Sun Pharma, down 0.95 per cent at Rs 520.95; and Reliance Industries, down 0.92 per cent at Rs 901.50.

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