MUMBAI: Falling for the fifth session on the trot, the sensex ended Tuesday's trading 245 points down at 19,348, nearly a three-week low for the benchmark. The fall was mainly because of the market's disappointment with the RBI policy and the extremely cautious tone of the central bank's policy review document.
It came despite a Rs 256-crore net buying by foreign funds and took the total loss in the sensex since July 24 to almost 1,000 points with FMCG and banking stocks leading the pack of laggards. And in these five sessions, Dalal Street investors have lost about Rs 3.9 lakh crore, with BSE's market capitalization now down to Rs 62 lakh crore.
Although the Street expected that RBI will not change rates since its main task has shifted from containing the rate of inflation to supporting the Indian currency, investors expected some relief from the current high rate of interest at the shorter end.
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