Sensex falls over 205 points on RBI hawkish stance

Sensex falls over 205 points on RBI hawkish stance

Among the BSE sectoral indices, power fell 1.06%, followed by metal 0.85%, capital goods 0.62%, consumer durables 0.61%, infra 0.56%, auto 0.52% and IT 0.38%.

"Given that interest rates are unlikely to reduce at least in the near to medium term, rate sensitive stocks slid due to rising oil price and concern over fiscal slippage", said Vinod Nair, Head of Research, Geojit Financial Services.

The gauge had lost 67.28 points in the previous session.

Top gainers in the Nifty 50 included Bharti Airtel, Maruti Suzuki India, Vedanta, Tata Motors, IndusInd Bank, Hindalco Industries and Adani Ports - up between 1.6 per cent and 3 per cent.

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Overseas, the Asian markets saw the shares of most of the companies decline, since investors across the globe have an eye on the final tax legislation in the United States, where policy uncertainty kept sentiment in check. Meanwhile, foreign portfolio investors (FPIs) sold shares worth a net Rs 1,470.56 crore, while domestic institutional investors (DIIs) bought to the tune of Rs 1,074.39 crore yesterday, as per provisional data released by the stock exchanges. SBI, ICICI Bank, Axis Bank, HDFC Bank, Bank of Baroda and Yes Bank fell by up to 1.44 percent. Here are the key highlights, which will affect the market today. "There may be some recovery in the markets ahead of the earnings season and the government budget next month", he added. The stock ended down 2.05 per cent or Rs 4.30 at Rs 205.45. MSCI's broadest index of Asia-Pacific shares outside Japan was barely changed.

Japan's Nikkei was up 1.22 per cent while Hong Kong's Hang Seng rose 0.57 per cent in early trade today. Shanghai Composite Index, however, shed 0.52 per cent.

Overnight on Wall Street, the Dow rose 0.29 per cent, the S&P 500 gained 0.29 per cent and the Nasdaq 0.54 per cent.

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