At 10:35AM, the S&P BSE Sensex is trading at 28,478 down 81 points, while NSE Nifty is trading at 8,530 down 25 points.
The BSE Mid-cap Index was trading down 0.02%, while BSE Small-cap Index was trading flat.
Metal, Healthcare, Capital Goods, FMCG indices are the gainers, while Auto, Consumer Durables, Power, banking, realty, Oil and gas indices are the losers.
ONGC, Cipla, NTPC, BHEL, Tata Power, Tata Steel are among the gainers, whereas Bajaj Auto, Infosys, M&M, ICICI Bank are losing sheen on BSE.
Dr. Raghuram Rajan, Governor will announce the Fifth Bi-monthly Monetary Policy Statement for 2014-15 today.
The banking stocks will be in focus due to RBI policy.
The Dow Jones fell 0.29% while S&P 500 shed 0.68%. Nasdaq dropped 1.34%.
Asian indices are mixed. Japan's Nikkei and Hong Kong's Hang Seng are lower while China's Shanghai index is flat.
India Inc is expecting at least 50 basis points cut in the benchmark interest rate at least this time around by the Reserve Bank of India when it takes into account falling inflation and a lower build- up of price rise, an ASSOCHAM survey had pointed out, ahead of the credit policy review on Tuesday
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