The BSE benchmark Sensex fell by nearly 31 points in early trade today as funds and investors adopted a cautious approach ahead of RBI policy meeting amid a weak Asian trend.
The 30-share barometer fell by 30.86 points, or 0.15 per cent, to 20,072.49 with stocks of oil and gas, consumer durable and realty trading in the negative.
The wide-based National Stock Exchange index Nifty declined by 7 points, or 0.12 per cent, to 6,067.80.
Brokers said restricted commitments by participants ahead of the Reserve Bank of India's monetary policy review, to be announced later today, and a weak Asian trend mainly influenced the trading sentiments.
In the Asian region, Japan's Nikkei Index fell by 0.68 per cent, while Hong Kong's Hang Seng index declined by 0.07 per cent in early trade. The US Dow Jones Industrial Average ended 0.10 per cent lower yesterday.
Stocks to watch-Jan 29
(Reuters): GLOBAL MARKETS ROUND UP
Nifty futures on the Singapore Exchange fell 0.09 percent. The MSCI-Asia Pacific index, excluding Japan was up 0.7 percent.
Asian shares rose on Tuesday after solid U.S. data, but investors remained cautious ahead of more U.S. economic reports and a Federal Reserve policy decision later in the week.
The S&P 500 eased slightly on Monday after an eight-day run of gains, while the Nasdaq edged higher as Apple shares rebounded.
FACTORS TO WATCH
RBI's policy review (decision at 0530 GMT)
Earnings: Idea Cellular Ltd, Reliance Capital Ltd, Sterlite Industries (India) Ltd
India's central bank said a sustained commitment to contain the fiscal and current account deficits was needed to create room for monetary easing.
Axis Bank Ltd is selling shares to raise as much as $1 billion, two sources with direct knowledge of the matter said on Monday.
The government is likely to make it easier for foreigners to prove their residency for claiming benefits under bilateral tax treaties, said a finance ministry official who did not wish to be named.
The finance ministry has asked the petroleum ministry to price motor and kitchen fuels at export parity, in a policy shift that would bring relief to fuel consumers and the economy but shake up the domestic oil retail market.
Adani Ports and Special Economic Zone Ltd has