Market snaps 2-day gains, selling in banking, metal and IT
At close, the Sensex was down 426.85 points or 0.53% at 79,942.18, and the Nifty was down 126 points or 0.51% at 24,340.85.
Expectations of a monetary policy easing, coupled with hopes of healthy quarterly results and broadly positive global cues, buoyed the key Indian equity indices — NSE Nifty and BSE Sensex — during the morning trade session on Tuesday.
According to market observers, factors such as hopes of a lending rate cut by the Reserve Bank of India (RBI) in its next policy review meet on Wednesday enhanced investors risk taking appetite.
At 10 a.m., the NSE Nifty inched-up by 10.85 points or 0.11 per cent to 10,087.95 points.
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The BSE Sensex stood at 32,537.31 points — up by 22.37 points, or 0.07 per cent.
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