MUMBAI (Reuters) - The BSE Sensex is down around 250 points and Nifty down around 80 points on Tuesday after the DMK pulled out of the ruling UPA coalition and after the RBI issued a statement that was seen as cautious on future rate cuts.
The political uncertainty came on the day Reserve Bank of India cut interest rates but disappointed investors with a statement seen as cautious on monetary policy.
The rupee weakened to as much as 54.36 per dollar and was last trading at 54.25 as of 1:31 p.m. from around 54.06/07 before the RBI decision and statement.
(Reporting by Mumbai markets team; Editing by Anupama Dwivedi)
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app