Weak Asian shares slacks Sensex, Nifty
Weak Asian shares slacks Sensex, Nifty. The market benchmark Sensex lower by 78.64 points, 0.24 per cent, at 32,398.10 as RBI’s 25 bps rate reduction did little to lift spirits amongst a weak Asian trade. The National Stock exchange Nifty fell by 23.25 points, or 0.23 per cent, to 10,058.25.
The gauge touched lows by 98 points yesterday. Bank, PMCG, metal, power, capital goods, realty and IT falls. Kotak Bank, SBI, ONGC, Asian Paints, Adani ports and Axis Bank were among the stragglers.
The US Dow Jones Industrial Average ended above the 22,000 for the first time yesterday, propelled by strong corporate earnings.
Rupee strengthens at a novel high of 63.65 against dollar, yet fails to effervesced sentiments.
The Reserve Bank's decision to lower the benchmark rate by 25 bps to 6 per cent yesterday was already priced in, which is why there is nothing to cheer, dealers said.
