Sensex loses 93 points in early trade

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The Sensex and Nifty closed over 1.5% higher after interest rate sensitive stocks extended gains on Reserve Bank of India's (RBI) first monetary policy announcement for this fiscal today.

It also said India's economic growth rate is expected to strengthen to 7.4 per cent in the current financial year, from 6.6 per cent in 2017-18, on account of revival in investment activity.

However, there was a twist in the tale as markets nosedived in the late afternoon session on the back of some fresh worries arising on the trade war between the U.S. and China.

"The markets also cheered the 'normal" southwest monsoon forecast by private weather forecasting agency Skymet. The Dow was down by over 500 points, but it managed to end the session with gains of 0.96% at 24,264.

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The BSE market breadth was, however, bullish with 1,442 advances and 1,014 declines.

Meanwhile, domestic institutional investors (DIIs) bought equities to the tune of Rs 615.28 crore yesterday, while foreign portfolio investors (FPIs) net sold shares worth Rs 108.02 crore, according to provisional data.

Other gainers in the Sensex pack were Tata Steel, L&T, Adani Ports, Infosys, HUL, TCS, NTPC, Wipro, RIL, Sun Pharma, HDFC Ltd, ONGC and Dr Reddy's, rising up to 3.67 per cent. In the broader markets, the mid-cap and small-cap indices ended with gains of 0.65 per cent and 0.61 per cent, respectively. London's FTSE too was up 1.29 per cent.

Sectorally, the BSE healthcare index spurted 0.94 per cent, followed by oil & gas, PSU, consumer durables, banking, realty, FMCG, power, auto and infrastructure. Australian stocks slipped 0.35 percent and South Korea's KOSPI lost 0.3 per cent. Japan's Nikkei fell 0.15 per cent.

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