Indian Stock Market down ahead of Monetary Policy update

Mumbai, June 2 (IANS): Ahead of the monetary policy update by the central bank later in the day, key Indian stock market on Tuesday opened slightly higher, but immediately lost ground, as uncertainty remained over a possible cut in interest rates.

The sensitive index (Sensex) of the Bombay Stock Exchange opened at 27,890.73 points, against the previous close at 27,848.99 points. But within minutes of the opening bell the index lost ground.

About half-hour into trading, it was ruling at 27,731.73 points, down 117.26 points or 0.42 percent.

At the National Stock Exchange, the broader Nifty was ruling at 8,396.05 points, down 37.35 points, or 0.44 percent.