Sensex too maintains a status quo post policy; down about 100 points

NEW DELHI: The S&P BSE Sensex recouped some of the intraday losses after falling as much as 173 points in trade on Tuesday, after the Reserve Bank of India (RBI) kept key policy rates, CRR, SLR unchanged in its monetary policy review meet.

The benchmark index cracked soon after the RBI verdict but managed to recoup some of its intraday losses. The fall in the index was led by losses in Infosys, SBI, HDFC, Tata Motors and M&M.

"A change in the monetary policy stance at the current juncture is premature. However, if the current inflation momentum and changes in inflationary expectations continue, and fiscal developments are encouraging, a change in the monetary policy stance is likely early next year, including outside the policy review cycle," the bank said.

Tracking the momentum, the 50-share Nifty index also came under pressure and was still trading below its crucial psychological support level of 8550, weighed down by losses in consumer durable, banks, IT and realty stocks.

At 3:05 pm, the Sensex was at 28,474.97; down 84.65 points.

The Nifty was at 8,530.95; down 24.95 points.

Sesa sterlite (up 1.4 per cent), L&T (up 1.3 per cent), Hindalco (up 1.1 per cent), BHEL (up 1.04 per cent) and Bharti Airtel (up 0.91 per cent) were among the major Sensex gainers.

Infosys (down 1.7 per cent), Bajaj Auto (down 1.2 per cent), M&M (down 1.3 per cent), Hero MotoCorp (down 1.1 per cent) and DRL (down 1.06 per cent) were the major index losers.