Stock markets discount RBI rate cut, Sensex plunges 112 pts to end below 20K
Among the sectoral indices, the BSE-Realty fell by 2.07 per cent, followed by BSE-Oil&Gas 1.35 per cent and BSE-Auto 1.12 pct.
"Significantly, various government reform measures drew favorable response from the RBI as the later expressed confidence of an upturn of the investment cycle on the back of this. This points to a more coordinated fiscal and monetary policy response going forward that augurs well for economy," said Motilal Oswal, CMD, Motilal Oswal Financial Services.
Market breadth today was, however, negative as 960 scrips finished with losses while 786 closed with gains. Total market turnover rose sharply to Rs 2,608.50 crore from Rs 2,009.83 crore yesterday.
Meanwhile, Foreign Institutional Investors (FIIs) picked up shares worth a net Rs 783.56 crore yesterday as per provisional data from the stock exchanges.
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