Press Esc to close
Thursday 24 July 2014
News updated at 2:59 AM IST
Weather
Max: 28°C
Min : 21.3°C
In Bangalore
Sunny day

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.

Go to Top

Photo Gallery
A relative of a passenger on board the crashed TransAsia Airways plane cries in Kaohsiung...

A relative of a passenger on board the crashed TransAsia Airways plane cries in Kaohsiung...

Rescue workers survey the wreckage of TransAsia Airways flight GE222 which crashed...

Rescue workers survey the wreckage of TransAsia Airways flight GE222 which crashed...

Priyanka Chopra during the unveiling of trailer of the film ''Mary Kom'', in Mumbai...

Priyanka Chopra during the unveiling of trailer of the film ''Mary Kom'', in Mumbai...

Artists perform during the launch of Philips and Disney imaginative lighting range in New Delhi...

Artists perform during the launch of Philips and Disney imaginative lighting range in New Delhi...

People watch as pyres burn at a cremation ground on the banks of river Ganges in Varanasi...

People watch as pyres burn at a cremation ground on the banks of river Ganges in Varanasi...

Villagers cross the river Baitarani in a country boat after the same was flooded following...

Villagers cross the river Baitarani in a country boat after the same was flooded following...

Philipp von Sahr, President, BMW Group India with the newly launched BMW Active Hybrid 7...

Philipp von Sahr, President, BMW Group India with the newly launched BMW Active Hybrid 7...

Andhra Pradesh Chief Minister N Chandrababu Naidu distributing food grains to poors...

Andhra Pradesh Chief Minister N Chandrababu Naidu distributing food grains to poors...

Sand artist Sudarsan Pattnatik creates a sculpture on girl child abuse with a message...

Sand artist Sudarsan Pattnatik creates a sculpture on girl child abuse with a message...

Lightning on a thunderstorm  crackles over the mountains just south of Tollgate, Ore...

Lightning on a thunderstorm crackles over the mountains just south of Tollgate, Ore...

Copyright 2014, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bangalore - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523