Indian Markets End Near Day's Low Amid Bearish Sentiment

The Indian markets closed near the day's low on Tuesday, following the Reserve Bank of India's credit policy review. The review, which left all key interest rates unchanged, had a negative impact on various sectors, including real estate, metals, and banks. The National Stock Exchange's Nifty and Bombay Stock Exchange's Sensex indices both plummeted, with the Nifty closing at 4841.40, down 129.50 points or 2.61 percent. The BSE Midcap Index fell 3.71 percent, and the BSE Smallcap Index slipped 4.33 percent.

Key Takeaways:

• The Reserve Bank of India left all key interest rates unchanged, including the reverse repo rate (3.25%) and CRR (5%).
• The central bank increased provisioning for commercial real estate loans to 1 percent from 0.4 percent for standard assets, negatively impacting realty shares.
• The BSE Realty Index plunged 6.11 percent, the BSE Metal Index fell 5.76 percent, and the BSE Bankex Index fell 3.97 percent.
• Top losers included Reliance Capital (-8.06%), Hindalco Industries (-7.87%), Unitech (-7.71%), Reliance Communications (-6.91%), and Bharti Airtel (-6.84%).
• Biggest Nifty gainers were Wipro (2.24%), Tata Motors (1.41%), Sun Pharmaceuticals (1.19%), BPCL (0.81%), and Cipla (0.47%).
• Market breadth was extremely negative, with 2274 declines outnumbering 453 advances on BSE.

Statistics:

• Nifty closed at 4841.40, down 129.50 points or 2.61 percent.
• Sensex ended at 16330.60, down 409.90 points or 2.45 percent.
• BSE Midcap Index fell 3.71 percent.
• BSE Smallcap Index slipped 4.33 percent.
• BSE Realty Index plunged 6.11 percent.
• BSE Metal Index fell 5.76 percent.
• BSE Bankex Index fell 3.97 percent.

Sources:

• "Indian markets end near day's low." The Economic Times. economictimes.indiatimes.com.