Mumbai: Markets were expected to end flat, but not in the negative. There was chatter in the markets that RBI' monetary policy' on not tinkering with rates was a welcome move. But surprisingly markets ended in the red side.
Benchmark Sensex quoted 34592.03 (down by nearly 80 points) while NSE Nifty ended at 9888.701 (down by 26.20 points).
On the Sensex, NTPC and Coal India were the only two scrips to show an over 1% average upward move. Mahindra & Mahindra was a trending stock, but could figure only a 0.85% intraday gain. ICICI Bank and Powergrid corporation ended the day with an over 1% loss.
On the broader side, Small Cap indices fared well, and showed a 0.79% intra-day gain. Midcap too showed gains, ending with an average 0.49% gain.
Realty stocks and Basic Materials showed gains of more than 0.90%. Amid Basic Materials, Vishnu Chemicals was the pick of the stock with a 20% gain. Gravita Industries (up by 13.48%), Himadri Specialty (11.26%) were the other scrips from the sector.
Phoenix Limited (up by 7.64%), Housing Development & Infrastructure Ltd (2.63%), DLF (up by 2.58%), were the top prominent scrips from the realty space.
The bullion market also had a trying day. Gold tumbled by over Rs 225 to 30375 per ten grams thanks to muted demand from local jewelers. This in spite the metal strengthening in global markets.