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The benchmark indices ended in red, after RBI’s credit policy announcement today.

At close, the Sensex was down 215 points or 0.39 per cent at 54277.72 and the Nifty was down 56.40 points or 0.35 per cent at 16238.20.

About 1728 shares have advanced, 1400 shares declined and 120 shares remain unchanged.

On the Nifty 50 index, IndusInd Bank (3.19 per cent), Adani Ports (2.47 per cent), IOC (1.88 per cent), Tata Consumer Products (1.69 per cent) and Bharti Airtel (1.54 per cent) were the top gainers for the day, while Cipla (-3.61 per cent), Reliance (-2.21 per cent), Shree Cement (-2.00 per cent), UltraTech Cement (-1.71 per cent) and SBI (-1.40 per cent) were the top losers for the day.

On the sectoral front, the metal, auto and IT indices ended higher, while selling was seen in the pharma, FMCG and infra names.

The midcap and smallcap indices rose 0.2 percent each.

Author’s View: The overall trend of the market continues to remain bullish and any dip or correction should be utilized to go long. 16,300 is the short term resistance which was crossed yesterday and today as well. If we can keep above that level, the index should zoom to 16,500-16,600.

Disclaimer:  The view/s expressed above are only for educational/awareness purpose. Mumbailive.com or the author of the post bears no liability for any losses suffered by following any advice posted on the website. You are solely responsible for making your own investment decisions.

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