Sensex tumbles on hawkish tone by RBI

The Sensex recovered partially after the announcement of the RBI policy, but has slipped back deeper into red following hawkish tone by the RBI going forward.

The Sensex is now at 16,578, down 141 points.

The Nifty is at 4,924, down 47 points.

Wipro continues to be the major gainer, up 3% at Rs 610. Tata Motors has advanced 3% to Rs 555. Grasim Industries, Sun Pharma and Mahindra & Mahindra have gained around 1.5% each.

Sterlite is the prominent loser, down 3.5% at Rs 795. Bharti Airtel and Reliance Communications have dropped 3% each to Rs 318 and Rs 216, respectively.

DLF, Hindalco, Tata Steel, Jaiprakash Assocites, Tata Power and Reliance Infrastructure have declined 2-3% each.

The BSE Metal index is the major dragger, down 3% at 14,803 and the realty index has shed 2%.

The market breadth is extremely negative, out of 2,308 shares traded, 1,683 have declined and 563 have advanced so far on the BSE.

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