YESTERDAY’S DLF CALLACHIEVED 1ST TGT
Selling pressure was witnessed across the board but rate-sensitive sectors fell the most. In the end, the Sensex and Nifty plunged 660 points and 197 points to 27188 and 8236, respectively. Equity benchmarks nosedived on Tuesday after the Reserve Bank of India (RBI) took a cautious stance on the economic recovery even as it cut the policy rates by 25 basis points.The sell-off in markets came after the market participants interpreted from the Reserve Bank of India's commentary that going ahead chances of another rate cut in the current calendar year remain bleak as the real interest rate shrunk to RBI's target level of 1.5 per cent post today's repo rate cut. The Nifty ended at 8236.45, down 196 points or 2.34 per cent. It touched a high of 8445.35 and a low of 8226.05 in trade today.The 50-share Nifty index also came under pressure and broke below its crucial psychological support level of 8250, weighed down by losses in rate sensitive stocks such as banks, autos, and realty and capital goods stocks.
Selling pressure was witnessed across the board but rate-sensitive sectors fell the most. In the end, the Sensex and Nifty plunged 660 points and 197 points to 27188 and 8236, respectively. Equity benchmarks nosedived on Tuesday after the Reserve Bank of India (RBI) took a cautious stance on the economic recovery even as it cut the policy rates by 25 basis points.The sell-off in markets came after the market participants interpreted from the Reserve Bank of India's commentary that going ahead chances of another rate cut in the current calendar year remain bleak as the real interest rate shrunk to RBI's target level of 1.5 per cent post today's repo rate cut. The Nifty ended at 8236.45, down 196 points or 2.34 per cent. It touched a high of 8445.35 and a low of 8226.05 in trade today.The 50-share Nifty index also came under pressure and broke below its crucial psychological support level of 8250, weighed down by losses in rate sensitive stocks such as banks, autos, and realty and capital goods stocks.