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Markets record broad-based selling as focus shifts to RBI policy; Auto, IT stocks extend losses

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Markets record broad-based selling as focus shifts to RBI policy; Auto, IT stocks extend losses

Market,

Tuesday saw a widespread sell-off in Indian markets as attention turned to the upcoming RBI policy. Auto and IT stocks continued to fall, while small-cap stocks continued to fall. Also, bears kept the market hold on fall in risk craving of financial backers and fall in FY23 tax breaks. In order to restore calm to the system’s failed lenders, banking stocks maintained a strong base during merger deals in the US.

The Sensex ended the day at 57,613.72, a decrease of 40.14 points, or 0.07%. The Nifty 50 ended the day at 16,951.70, down 34 points, or 0.2 percent.

IndusInd Bank, Power Grid, HDFC Bank, ICICI Bank, and HDFC were the top gainers on the Sensex.

Tech Mahindra, Tata Motors, Bharti Airtel, Wipro, Bajaj Finserv, HCL Tech, and Bajaj Finance were the Sensex’s biggest losers, losing between one and three percent.

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