May 03, 2013, 04.29 PM IST
Investors seem to be on selling mode today as the Nifty slipped closer to 5950 led by rate sensitives.
The Bank Nifty lost 2.5 percent while BSE Bankex was down 2.4 percent. Other rate sensitives like BSE Realty index (down 1.4 percent), BSE Auto (down 1.5 percent) too lost investors’ confidence.
However, metals, technology and capital goods stocks were on buyers’ radar.
The midcap index (down 0.3 percent) saw smaller cuts as Canara Bank, Allahabad Bank And Karnataka Bank were down 3-4% each. GMR Infra fell 2.1 percent while HDIL was down 1.2 percent.
Tata Motors (down 3.8 percent), SBI (down 3.6 percent), ICICI Bank, GAIL and Bajaj Auto were the major losers in the Sensex.
Meanwhile, Jindal Steel, Hindalco, Tata Steel, Sun Pharma and Sterlite were the top gainers of the day.
Indian shares recovered most of the losses it made the entire morning after the Reserve Bank of India (RBI) cut repo rate by 25 basis points to 7.25 percent. The central bank left the cash reserve ratio unchanged at 4 percent.
Key equity benchmarks recovered from day’s low after the Reserve Bank of India (RBI) had slashed repo rate by 25 basis points to 7.25 percent. RBI left cash reserve ratio (CRR) unchanged at 4 percent.
The market continued its southward journey just as the Reserve Bank of India slashed repo rate by 25 basis points (bps) in its monetary policy review. The central bank has left cash reserve ratio (CRR) unchanged. The RBI has also mentioned 'little space for further monetary easing'.
Key equity benchmarks fell 0.4 percent after the Reserve Bank of India (RBI) continued to maintain its hawkish tone in its macro-economic report ahead of today's credit policy. The central bank warned of a very limited scope for further loosening of monetary policy in FY14.
The market seemed to have tapered down expectations from the Reserve Bank of India's monetary policy review today. The central bank continued to be cautious about the state of the economy. In its macro-economic report ahead of credit policy review, the central bank has maintained that monetary space is limited this fiscal.
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