Sensex, Nifty Off Highs on Profit-taking in Banking Stocks

BSE Sensex and Nifty were off day's high on some profit-taking in banking and FMCG stocks. The Sensex was up 82 points at 24,767, down over 100 points from its day's high of 24,892.

Nifty was up 22 points at 7,384.90.

The Bank Nifty was down over 0.5 per cent after rising close to 1 per cent after the Reserve Bank kept its rates steady and cut SLR by 50 bps. ICICI Bank, SBI, and Bank of Baroda were down between 0.7 per cent and 1 per cent. The Bank Nifty rose nearly 3.5 per cent yesterday.

Metal stocks rose today after positive manufacturing data from China. Sesa Sterlite was the top Nifty gainer, rising close to 6 per cent. Tata Steel also rose nearly 5 per cent.