Indian equities continue to trade sharply lower on Tuesday as the RBI's credit policy dampened market sentiments. BSE Midcap and Smallcap index underperformedthe benchmark indices.India's central bank has decided to not to give in to growing political pressure to cut lending rate that caused slowdown in growth. The Reserve Bank of India (RBI) slashed cash reserve ratio (CRR) by 25 bps while leaving lending and borrowing rates unchanged in the second quarter monetary policy review. At 1.05 p.m., the Sensex was trading down 147.80 points or 0.79% at 18,488.02 with 24 components falling. Meanwhile, the Nifty was trading lower by 55 points or 0.97% at 5,610.60 with 45 components falling.
The 30-share benchmark index, BSE Sensex opened flat with a rise of 6.19 points or 0.03% at 18,642.01, while the broad based NSE Nifty started with a fall of 9.25 points or 0.16%, at 5,656.35.
Sensex Movers
ICICI Bank contributed fall of 31.82 points in the Sensex. It was followed by Larsen & Toubro (26.02 points), Tata Motors (22.88 points), State Bank of India (22.71 points) and ITC (14.34 points).
However, Infosys contributed rise of 12.73 points in the Sensex. It was followed by Hindustan Unilever (7.4 points), Tata Consultancy Services (5.8 points), Bharti Airtel (0.61 points) and Bharat Heavy Electricals (0.48 points).
Biggest gainers in the 30-share index were Dr Reddy's Laboratories (1.27%), Hindustan Unilever (1.06%), Infosys (0.96%), Tata Consultancy Services (0.64%), Bharat Heavy Electricals (0.20%), and Bharti Airtel (0.15%).
On the other hand, Tata Motors (3.95%), State Bank Of India (3.33%), Hero Motocorp (2.81%), Larsen & Toubro (2.36%), ICICI Bank (2.19%), and Hindalco Industries (1.72%) were the major losers in the Sensex.
Mid & Small-cap Space
The BSE Midcap index was at 6517.3 down by 57.47 points or by 0.87%. The major losers were Allahabad Bank(1.59%), Alstom India (1.26%), Allcargo Logistics (1.14%), CORE Education and Technologies (0.83%) and Aban Offshore (0.62%).
The BSE Smallcap index was at 6976.37 down by 67.25 points or by 0.95%. The major losers were A2Z Maintenance & Engineering Services (3.47%), Trident (2.11%), Styrolution ABS (India) (1.86%), Aarti Industries (1.73%) and Aanjaneya Lifecare (0.14%).
Sectors in Limelight
The Realty index was at 1,749.14, down by 38.22 points or by 2.14%. The major losers were Housing Development and Infrastructure (4.4%), Indiabulls Real Estate (3.73%), DLF (2.53%), DB Realty (1.5%) and Godrej Properties (1.19%).
The Bankex index was at 12,929.95, down by 250.66 points or by 1.9%. The major losers were Bank Of Baroda(4.97%), Canara Bank (4.58%), Bank Of India (2.13%), Federal Bank (1.27%) and HDFC Bank (0.29%).
The Consumer Durables index was at 6,924.96, down by 132.59 points or by 1.88%. The major losers were Titan Industries (3.24%), Rajesh Exports (2.1%), TT K Prestige (1.49%), Videocon Industries (0.32%) and Bajaj Electricals (0.03%).
On the other hand, the IT index was at 5,701.21, up by 32.24 points or by 0.57%. The major gainers were Oracle Financial Services Software (1.44%), Infosys (0.96%), Tata Consultancy Services (0.64%) and Tech Mahindra (0.04%).
Market Breadth
Market breadth was negative with 840 advances against 1,704 declines.
Value and Volume Toppers
State Bank Of India topped the value chart on the BSE with a turnover of Rs. 1,585.16 million. It was followed by United Spirits (Rs. 890.04 million), KPIT Cummins Infosystems (Rs. 682.91 million) and ICICI Bank (Rs. 353.49 million).
The volume chart was led by KPIT Cummins Infosystems with trades of over 5.57 million shares. It was followed by Kingfisher Airlines (4.32 million), Veer Energy and Infrastructure (2.87 million) and Housing Development and Infrastructure (2.39 million).
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