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Equity benchmarks extended losses again. The Sensex tanked 422.45 points or 1.52 percent to 27426.54 and the Nifty dropped 130.55 points or 1.55 percent to 8302.85. About 803 shares have advanced, 1628 shares declined, and 144 shares are unchanged on the BSE. Reliance, Bharti Airtel, L&T, ONGC and TCS are top gainers while Hero, HDFC, ITC, Axis Bank and SBI are among laggards in the Sensex.
Hero, HDFC, ITC, SBI and Cipla are among major laggards while Bharti Airtel is in green.The Indian share market has fallen sharply after RBI has kept cash reserve ratio (CRR) unchanged. The Reserve Bank of India has slashed the repo rate by 25 basis points. The repo rate is now 7.25 percent. Consequently, the reverse repo rate moves lower to 6.25 percent.
Meanwhile, crude oil dipped on expectations that OPEC would not cut output at its meeting this week, but firm refinery demand curbed price losses. Shares of HDFC, Infosys, Reliance Industries, L&T, HUL, Cipla, Dr Reddy's Labs, Wipro and Vedanta declined 0.5-1 percent while Bharti Airtel, Tata Motors, TCS, HDFC Bank and SBI gained 0.2-1.3 percent.
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Equity benchmarks extended losses again. The Sensex tanked 422.45 points or 1.52 percent to 27426.54 and the Nifty dropped 130.55 points or 1.55 percent to 8302.85. About 803 shares have advanced, 1628 shares declined, and 144 shares are unchanged on the BSE. Reliance, Bharti Airtel, L&T, ONGC and TCS are top gainers while Hero, HDFC, ITC, Axis Bank and SBI are among laggards in the Sensex.
Hero, HDFC, ITC, SBI and Cipla are among major laggards while Bharti Airtel is in green.The Indian share market has fallen sharply after RBI has kept cash reserve ratio (CRR) unchanged. The Reserve Bank of India has slashed the repo rate by 25 basis points. The repo rate is now 7.25 percent. Consequently, the reverse repo rate moves lower to 6.25 percent.
Meanwhile, crude oil dipped on expectations that OPEC would not cut output at its meeting this week, but firm refinery demand curbed price losses. Shares of HDFC, Infosys, Reliance Industries, L&T, HUL, Cipla, Dr Reddy's Labs, Wipro and Vedanta declined 0.5-1 percent while Bharti Airtel, Tata Motors, TCS, HDFC Bank and SBI gained 0.2-1.3 percent.
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