Indian shares slipped in early trade on Thursday as investors were nervous ahead of RBI's monetary policy meet and as Asian markets remained muted on overnight losses in the US.
The S&P BSE Sensex hit as high as 30,007 in early trade before paring gains to end the session up 64.02 points or 0.21 percent at 29,974.24. The 30-share index crossed the 30,000-mark by surging 97.26 points, or 0.32%, to trade at 30,007.48, a level last seen on 4 March 2015 when it hit an intra-day high of 30,024.74. As the central bank, in an unusual move, raised the reverse repo rate by 25 basis points and cut the marginal standing facility rate, it also said it will use liquidity tools other than specified to manage the excess liquidity.
The central bank also projected the GDP growth for the current fiscal at 7.4 per cent, up from 6.7 percent in 2016-17.
Among BSE sectoral indices, FMCG slumped 0.79 per cent, followed by consumer durables (0.64 per cent), healthcare (0.63 per cent), capital goods (0.21 per cent), bank (0.21 per cent) and auto (0.08 per cent).
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In terms of investments, provisional data with the exchanges showed that the foreign institutional investors (FIIs) purchased scrip worth Rs 142.68 crore, while the domestic institutional investors (DIIs) divested scrip worth Rs 205.64 crore. HDFC rose 0.47%. Broader markets were mixed, with small-cap index falling 0.23% while mid-cap rising 0.15%.
The total turnover fell to INR 3,600.82 crore from Wednesday's closing level of INR 4,390.72 crore.
Besides, profit booking after Wednesday's gains, coupled with negative global cues, hampered the upward movement of the key indices. In the Asian region, Japan's Nikkei ended 1.40% lower, while Hong Kong's Hang Seng shed 0.52%. Shanghai Composite Index gained 1.11 per cent.