Sensex down as market looks for RBI Policy

In a choppy trade, the Bombay Stock Exchange benchmark Sensex closed lower by 110 points as funds and investors turned cautious ahead of the RBI`s Credit Policy and the US Fed decision on interest rate.

The Sensex, which gained nearly 405 points on Friday, turned weak and lost 110.02 points at 17,015.96 as market players adjusted their positions before the Reserve Bank of India`s meeting on Credit Policy tomorrow.

Foreign funds were also cautious before the US Federal Reserve meeting on interest rate. The Fed is scheduled to meet on April 29-30.

The key-index touched the day`s high of 17,271.56 and low of 16,978.89 points.

The downward trend was checked at some levels as Reliance Power, Reliance Natural and Reliance Energy gained on attractive quarterly results.

The wide-based National Stock Exchange index Nifty also fell by 22.05 points at 5,089.65, after touching the day`s high of 5,147.45 and low of 5,079.15 points.