The RBI's two-day monetary policy review kicks off today and the decision is due tomorrow. A curious catalyst has surfaced in the electoral chemistry of Gujarat.
The 30-share Sensex opened on a negative note on across-the-board losses and touched a low of 32,682.52.
Sector-wise, Metal fell by 0.82 per cent, Realty 0.55 per cent, Auto 0.53 per cent, IT 0.51 per cent and FMCG 0.24 per cent.
UK Services PMI Falls in November
The PMI scaled its highest level since April 2011 and was comfortably above the 50 mark that separates growth from contraction. Nikkei Services Purchasing Managers' Index (PMI) fell to 48.5 in November from 51.7 in October, lowest since August.
Major losers that dragged down the key indices include Adani Ports, NTPC, Tata Steel, Power Grid, Bajaj Auto, Wipro, Coal India, Hero MotoCorp, HDFC Bank, ONGC, L&T, Dr Reddy's and SBI.
Out of 1,975 stocks traded on the NSE, 563 advanced, 941 declined, and 471 remained unchanged today.
Biocon shares rallied as much as 16.3 per cent to Rs 519.50 as the US Food and Drug Administration had on Friday approved Mylan NV's biosimilar of Roche's blockbuster treatment for breast cancer, Herceptin, making it the second copycat cancer drug to be approved in the United States. "Broad market indices like the BSE mid-cap index ended with gains, thereby outperforming the main indices", Jasani added.
The gauge had gained 36.78 points in the previous volatile session.
Shanghai Roastery Advances Two Key Starbucks Plans
The company has already inked a deal for an enormous 43,000-square-foot Reserve Roastery in Chicago that's set to open in 2019. The company's latest quarterly earnings were pretty gloomy, showing disappointing sales growth in a tough retail environment.
The Nifty jumped 57.40 points or 0.56 per cent to 10,179.20.
Provisional data with the exchanges showed that foreign institutional investors sold scrips worth Rs 1,470.56 crore while domestic institutional investors bought stocks worth Rs 1,074.39 crore. Asian shares fell as technology shares mirrored a sell-off in USA tech companies.
The Dow Jones Industrial Average index rose 0.24 per cent to setlle at 24,290.05 in overnight trade.
Snow, high winds and cold mark season's first wintry weather
Tonight: Rain showers before midnight, then a slight chance of rain and snow showers after 4 a.m. Overnight night lows for the rest of the week will be in the teens and low 20s.