Mumbai: The consolidation in market continued for the second session on Tuesday as investors are eyeing for RBI policy that will be announced on Wednesday. The day that was looking like a sigh of relief after a fall in previous five sessions gave up gains in last hour of trade.
The Sensex slipped 47.38 points to 20,612.14, and the Nifty fell 15.65 points to 6,139.05. After disappointing industrial output and inflation data, economists firmly believe there is at least 25 basis points hike in repo rate and dovish commentary from RBI governor Raghuram Rajan on December 18.
Bank Nifty dropped more than 1 percent as investors preferred profit booking ahead of the big event. The caution on the street was also on account of Federal Reserve meeting that will kick off today for two days.
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