MUMBAI (Reuters) - The BSE Sensex fell the most this month on Tuesday after the withdrawal of the DMK from the ruling UPA coalition raised doubts about the fate of the government's reforms and after the RBI stuck to a cautious stance on monetary policy.
Banking stocks fell after Reserve Bank of India cut interest rates by 25 basis points but left the cash reserve ratio, a key liquidity tool, unchanged. The RBI also stuck to a cautious tone on future rate cuts.
ICICI Bank provisionally fell 2 percent, while State Bank of India retreated 1.9 percent.
The Sensex provisionally fell 1.45 percent, its biggest daily percentage fall since February 28, while the 50-share Nifty ended down 1.5 percent.
(Reporting by Manoj Dharra; Editing by Rafael Nam)
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