Sensex snaps 3-day rally

Mumbai: The benchmarking indices closed lower amid gloabl cues and investors turned cautious ahead of RBI's decision on key rates scheduled on Tuesday.

The markets have noise-dived in second half of the trading session, as analysts assume that the apex bank to maintain status-quo on key policy rates. Market also plummeted as Moody's downgraded Janpan's sovereign debt rating besides weak European PMI data.

While BSE Sensex snapped three-day rally slipping by 134 points to close at 28,560 due to fall in share prices in the sectors like Power, O&G, metal and realty. Also NSE Nifty closed down 32 points at 8,556 after hitting record high of 8523.

Oil exploring companies fell after oil prices slide to five-year low RIL stock fell 2.4 per cent, ONGC down 3.9 per cent and Cairn India los 1.5 per cent. The select lenders also fell with HDFC down by 2 per cent, SBI by 0.6 per cent.

On the other hand, the crude oil users gained with Jet Airways gaining 7.9 per cent, Apollo by 2 per cent and HPCL by 1.2 per cent.

Also the jewellery firms also rose after government scrapped the rule that was mandated trading companies to export 20 per cent of the gold imported. Titan gained 5.2 per cent, Tribhovandas Bhimji Zaveri jumped 19.1 per cent, Gitanjali Gems up 19 per cent.

The major Sensex gainers: Hero MotoCorp, up 3.69 per cent at Rs 3,258.25; Hindustan Unilever, up 2.75 per cent at Rs 808.25; Tata Consultancy Services (TCS), up 1.89 per cent at Rs 2,693.15; Axis Bank, up 1.73 per cent at Rs 489.35; and Maruti, up 1.61 per cent at Rs 3,389.65.

The major Sensex losers: ONGC, down 3.98 per cent at Rs 364.40; Hindalco Inds, down 3.85 per cent at Rs 167.20; BHEL, down 3.25 per cent at Rs 274; Reliance Inds, down 2.94 per cent at Rs 961.75; and Tata Power, down 2.74 per cent at Rs.90.45.