Indian equity benchmarks opened lower on Wednesday, October 7, as investors remained cautious ahead of the Reserve Bank of India’s monetary policy decision. The Sensex declined 439.86 points, or 0.60%, to 72,627.95, while the Nifty 50 fell 161.10 points, or 0.71%, to 22,615 in early trade.
Rate-sensitive sectors were among the major drags, while Titan Company, Mahindra & Mahindra, Asian Paints, Bajaj Finserv and Maruti Suzuki were among the stocks weighing on the benchmarks. The decline followed a stronger session on October 6, when the Sensex and Nifty had gained nearly 1%.
Market participants are also monitoring elevated US bond yields, crude prices and foreign fund flows. Foreign investors sold equities worth Rs.2,961.30 crore in the previous session, while domestic institutional investors bought shares worth Rs.5,088.92 crore.
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