Nifty slips below 24,650 amid RBI caution, weekly expiry volatility
Mumbai, Aug. 4 -- The benchmark indices ended lower on Tuesday, snapping a four-session winning streak as investors booked profits ahead of the Reserve Bank of India's monetary policy decision due on Wednesday. Sentiment remained cautious amid the weekly expiry of Nifty 50 derivatives contracts and increased volatility following the rollout of the NSE's new Closing Auction Session (CAS). The Nifty settled below the 24,650 mark. Oil & gas and FMCG stocks led the decline, while metal and media shares bucked the trend. Technically, the 24,750-24,780 zone remains the key resistance for the Nifty, while the 24,460-24,430 zone is expected to provide immediate support.
The S&P BSE Sensex declined 210.08 points or 0.27% to 78,428.95. The Nifty 5...
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