Markets jittery on RBI move, Nifty down 76 points

Indian bourses severed the three-day rally as selling pressure dominated the sentiment following Apex Bank's overnight move to tackle Rupee volatility, led the benchmark CNX Nifty to drop 75.55 points at the National Stock Exchange.
In an unexpected move, RBI last night announced a slew of measures to control the rupee volatility, which is pressuring the macro economic stability by hiking the lending rates for banks and sale of government bonds to shore up Rs 12,000 crore to make rupee dearer.
Opening gap down, the bourses witnessed crash in interest rate sensitive sectors of banking, financials and realty sectors, though it trimmed in intra-day during mid-afternoon trade due to gains made by Index-major ITC.

The market sidelined firm Asian and mixed European stocks.
Apart from Banking and Financials, Metals and Capital Goods shares also declined heavily.
The 50-share index resumed gap down at 5,930.80 and drifted further to 5,910.95 before settling at 5,955.25, down 75.55 points or 1.25 per cent.
Major losers were Indusind, DLF, JP Associate, IDFC and Axis Bank. While Bharti Airtel, ITC, BPCL, Ambuja Cement and Hindustan Unilever were the key gainers.
Turnover in the cash segment soared to Rs 10,377.23 crore from Rs 8,647.49 crore yesterday. A total of 6,035.75 lakh shares changed hands in 56,18,761 trades. The market capitalisation stood at Rs 63,63,032 crore.