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Sensex, Nifty open weak ahead of RBI policy; metal stocks drag

Benchmark indices opened lower today as caution prevailed ahead of RBI’s monetary policy review outcome and on weak cues from the global markets.

Nifty was weighed down by losses in the metal and commodity companies following a sharp decline in the global copper prices. The Nifty Metal and Nifty Commodity index were down 1.7% and 0.6% respectively.

At 9:48 AM, the Nifty 50 was at 10,102, down 17 points or 0.16% from the previous close. The BSE Sensex was at 32,753, down 50 points or 0.15%.

The BSE Midcap index was down 0.61%, while the BSE Smallcap index remained unchanged.

Shares of Shilpa Medicare were down 4% as the USFDA issued 10 observations to the company’s Telangana unit.

Shares of Dish TV fell over 1% after the company posted a consolidated loss for Jul-Sep as against net profit a year ago.

Tech Mahindra (+1%), Reliance Ind (+1%), Infosys (+1%), Kotak Mahindra Bank (+1%) and Zee Ent (+0.69%) were the top gainers on Nifty 50.

Hindalco (-2.5%), Vedanta, Tata Steel (-2%), Bajaj Auto (-1.2%) and Eicher (-1.1%) were the top losers in today’s trade.

India VIX dropped 0.51%.

Out of 1,971 stocks traded on the NSE, 902 advanced, 663 declined, and 436 remained unchanged today.

A total of 39 stocks registered a fresh 52-week high in trade today, while 15 stocks touched a new 52-week low on the NSE.