
Sensex falls 477 points from day’s high on profit booking, ends 25 points lower; all eyes on RBI policy outcome
Mumbai: Benchmark equity indices shrugged off strong cues from global peers and wiped off early gains to settle on a flat note on Wednesday, as caution ahead of the RBI policy outcome triggered profit-taking in index heavyweights. The continued rapid surge in coronavirus infections also bothered investors. For the seventh day in a row India registered more than 50,000 new Covid-19 cases, taking the total tally past the 19-lakh mark. “There were only a few stocks participating in the rally in recent times, and those stocks – index heavyweights corrected, dragging the market. It is a fragile market as far as depth of momentum is concerned,” said Deven Choksey, group managing director, KR Choksey Investment Managers. “The RBI MPC is unlikely to cut rates at this time; we will see the status q...