The market buckled under global weakness and the Reserve Bank of India (RBI) rate hike. The hawkish RBI policy dragged the frontline indices slipping below key psychological levels.
The 50-share NSE Nifty tumbled 50.75 points or 0.93%, to close at 5,396.75 and the 30-share BSE Sensex fell 146.36 points or 0.81%, to end at 17,985.88.
Pathik Gandotra, Head Broking, IDFC Securities says that if at all there is a downside then it is surely limited and may fall maximum by 5-10%.
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