Markets on Monday ended with a loss ahead of the RBI policy review due on Tuesday. Selling pressure in auto stocks also dampened investor sentiments.
The Sensex touched a high of 18,194 on opening but failed to hold on to gains as auto heavyweight, Maruti Suzuki, crashed on weak numbers. The index traded in red thereafter, slipping to a low of 17,994 as European markets too opened lower.
The Sensex ended at 18,020 - down 111 points. Nifty ended down 31 points at 5,419.
Investors are waiting to see the RBI's policy decision which is to come out on Tuesday. The same day would see index heavyweight, Reliance, declaring their first quarter numbers.
BSE auto index tumbled 3.2% to 8,140. Rate sensitives - realty and bankex- dropped ahead of the policy review.
At the time of the Indian market closing, European shares were trading flat. CAC was flat at 3,608. DAX dropped 17 points to 6,149.
Maruti Suzuki crashed 12% to Rs 1,191 on a 20% drop in Q1
net owing to royalty payment. Other auto stocks were also in red. Hero Honda slumped 7.5% to Rs 1,812. Tata Motors shed 2.2% at rs 819. Mahindra & Mahindra slipped 1% to Rs 620.
Realty stock- Jaiprakash Associates dropped 5.7% to Rs 121 in spite of a rise in Q1 net. DLF dropped 3% to Rs 313.
SBI was down 3.5% at Rs 2,409. Hindalco slipped 1.5% to rs 156.
HDFC, Larsen & Toubro and Reliance were down nearly 1% each.
Meanwhile, Bharti Airtel gained 2% at Rs 320.
IT stocks were up. TCS and Infosys added nearly 1% each to Rs 847 and Rs 2,803, respectively.
BSE market breadth was negative. Out of 3,008 stocks traded, 1,813 declined while 1,092 advanced.
VALUE TOPPERS. . .
Maruti Suzuki topped the value chart on the BSE with a turnover of Rs 175.98 cr, followed by TCS (Rs 113.91 cr), SBI (Rs 84.79 cr), IFCI (Rs 72.69 cr) and Fortis Healthcare (Rs 57.93 cr).