Sensex, Nifty start on a tepid note

DN Bureau

Benchmark indices started on a negative note Friday as investors turned cautious after the release of the minutes of RBI's last policy meet, in which governor Shaktikanta Das argued the need to look at growth concerns.

File Photo
File Photo

Mumbai: Benchmark indices started on a negative note Friday as investors turned cautious after the release of the minutes of RBI's last policy meet, in which governor Shaktikanta Das argued the need to look at growth concerns.

Besides, subdued cues from other Asian markets too weighed on investor sentiment here.

Also Read: Sensex, Nifty start on a positive note; bank stocks jump 

The BSE Sensex was trading 75.24 points, or 0.21 per cent, lower at 35,823.11. Similarly, the 50-share NSE Nifty fell 25.95 points, or 0.24 per cent, to 10,763.90. In the previous session, the 30-share index settled 142.09 points, or 0.40 per cent higher at 35,898.35. The broader Nifty gained 54.40 points, or 0.51 per cent, to 10,789.85.

According to traders, investor sentiment turned weak after the Reserve Bank of India (RBI) Thursday released the minutes of its last monetary policy meet.

The central bank's Monetary Policy Committee has noted the "weakened growth momentum" amidst inflation cooling off to lower the key policy rates to create a "congenial environment" for growth as the reasons for the surprise rate cut earlier this month.

Also Read: Rupee rises 9 paise to 71.02 vs US dollar 

In his debut policy review as RBI governor Shaktikanta Das argued that there was a need to look at growth concerns.

Meanwhile, on a net basis, domestic institutional investors (DIIs) were net buyers to the tune of Rs 202.10 crore, and foreign institutional investors (FIIs) also bought shares worth a net of Rs 55.48 crore on Thursday, provisional data available with BSE showed.

The rupee, meanwhile, was trading almost flat at 71.23 against the US dollar in early session. (PTI)

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