Markets keep losing ahead of RBI's decision on lending rates

NEW DELHI: The equity markets seem to be far from recovery as both Sensex and Nifty started trading on a a negative note in initial trading, ahead of the RBI's decision on key lending rates, slated to be announced later in the day.
Sensex opened with a minor loss of 4 points on 32,798.50 while Nifty lost around 20 points to open on 10,088.80. Both the indices, extended losses with Sensex falling as much as 100 points, before paring slightly.
Analysts believe that investors are more cautious ahead of the RBI decision, guarding against another downturn like the one last week which saw Sensex losing more than 700 points in a couple of days.
In Wednesday's morning trade, all sectoral indices apart from IT and pharma were in the red. Reliance, Cipla and Kotak Bank were the major gainers while Tata Steel and Hero MotoCorp were the major losers.