Sensex, Nifty50 open flat ahead of RBI rate decision; Hindalco, Asian Paints top losers

Indian equity benchmarks Nifty 50 and Sensex started Thursday's session with minor losses, ahead of a key decision on the benchmark interest rate by the RBI's Monetary Policy Committee (MPC), due at 10 am. The Indian share market took weak cues from other major Asian markets following a mixed session overnight on Wall Street, as mounting evidence of a slowdown in the world's largest economy fuelled worries about a global recession. 

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The BSE Sensex was down 125.2 points or 0.21 per cent to 59,564.1 and NSE Nifty50 declined by 33.8 points or 0.19 per cent to 17,523.2 minutes after the market opened.

As many as 16 stocks were advancing and 34 were declining in the Nifty50 basket in the early deals. 

SBI Life, Eicher Motors and Axis Bank were among the top gainers, rising around a per cent each. On the contrary, Hindalco, Asian Paints and M&M were the top blue-chip laggards, falling around a per cent.

HDFC twins, ICICI Bank and Axis Bank were among the top draggers for the BSE Sensex while HDFC, Infosys and ICICI Bank were among the top draggers for the Nifty Indices.

The Nifty Bank — whose 12 constituents include the country's largest lenders SBI, HDFC Bank, ICICI Bank and Axis Bank — turned flat. 

The broader markets too followed benchmarks suit to trade in the red minutes after the start of today’s session. Nifty Midcap managed to rise by 5.25 points or 0.08 per cent to 6,788.5. 

The 12-share banking index, Nifty Bank was at 40,863.2 level, down 135.9 points or 0.33 per cent in the early session.  

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