Sensex, Nifty slip from record highs, turn red

Both Sensex and Nifty today developed cold feet ahead of the RBI policy announcement by slipping into the negative zone after a strong start.The monetary policy committee, which is widely expected to lower interest rates in the wake of cooling inflation, is set to announce its decision later in the day.

Volatility took hold as indices like metal, capital goods and FMCG saw investors taking off profit while consumer durables, realty and energy counters witnessed buying interest.

The Sensex hit an all-time high at 32,686.48 before retreating to 32,553.35 at 1153 hours, down 21.82 points, or 0.07 per



cent.The broader Nifty was also down 13.25 points, or 0.13 per cent, at 10,101.40.

The big losers included Bajaj Auto 1.12 per cent, along with Asian Paints, Dr Reddy's and ONGC.

Foreign portfolio investors (FPIs) sold shares worth a net Rs 945.83 crore yesterday, as per provisional data.Domestic institutional investors (DIIs) net bought shares of Rs 1,390.65 crore.

Most Asian indices rose, helped by strong results from Apple. US stocks closed higher yesterday and the Dow Jones Industrial Average racked up a fifth straight record high.