May 08, 2012, 03.13 PM | Source: Reuters
The BSE Sensex falls 0.73%, while the Nifty loses 0.73% led by fall in tech shares and Reliance Industries.
Outlook may turn more negative after RBI deputy governor Subir Gokarn says risk of inflation becoming resurgent "significant", and there is limited room for further interest rate easing in current scenario.
Finance Minister said on Monday GAAR would be delayed until fiscal 2013-14.
JPMorgan sees a relief rally of 3-5% after GAAR postponed, but adds that fundamental issues, including economic growth and fiscal deficit, need to be addressed.