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Thursday 23 October 2014
News updated at 8:19 PM IST
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Sensex tanks 112 pts

Mumbai, Jan 29, 2013 DHNS

Key benchmark indices edged lower in choppy trade on Tuesday as the stock market had already factored the 25 basis points (bps) reduction by the Reserve Bank of India in its key policy rate review.

Initially the market showed some enthusiasm, but as the details of the policy review trickled in with the RBI Governor D Subbarao saying there was no room monetary easing in future unless and until the country's inflation and the current account deficit improves significantly over and above the RBI's expected level, which dampened investors and they begun booking profits.

Simply put, the market failed to cheer the RBI's decision of reducing key rates by 25 basis points and also releasing Rs 18,000 crore additional liquidity into the financial system.


Investor sentiment in D-Street was also thwarted by the RBI's decision to lower the domestic gross domestic product (GDP) growth to 5.8 per cent from 6.5 per cent growth it had earlier (in July, 2012) projected.

So much so, the barometer index of BSE fell below the psychological 20,000 level. The popular Sensex at BSE shed 112.45 points or 0.56 percent to 19,990.90, its lowest closing level from January 24, 2013. The S&P CNX Nifty at NSE lost 24.90 points to settle at 6,049.90 in the closing.

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Photo Gallery
Hindu priest performs evening prayers called 'Aarti' on the banks of the river Yamuna...

Hindu priest performs evening prayers called 'Aarti' on the banks of the river Yamuna...

Dakshineswar Temple decorated with lights for the Kali Puja and Diwali at North 24 Pargana...

Dakshineswar Temple decorated with lights for the Kali Puja and Diwali at North 24 Pargana...

Firecrackers light up the sky as people celebrate Diwali festival in Mumbai...

Firecrackers light up the sky as people celebrate Diwali festival in Mumbai...

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School students lighting earhen lamps at Tulsi Ghat in Varanasi...

A view of decorated Madan Mohan Malviya Stadium with oil lamps during Deepwali festival...

A view of decorated Madan Mohan Malviya Stadium with oil lamps during Deepwali festival...

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Illuminated Golden Temple on the eve of Diwali in Amritsar...

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Children with special needs light firecrackers as they celebrate Diwali...

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Border Security Force (BSF) soldiers enjoy Diwali celebrations on the eve of Diwali...

Hindu priests light oil lamps in a formation of the 'Swastika', a Hindu symbol of peace...

Hindu priests light oil lamps in a formation of the 'Swastika', a Hindu symbol of peace...

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A Border Security Force (BSF) soldier lights sparklers on the eve of Diwali...

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