Equity benchmark indices extended losses, with the Nifty breaking 10,650 levels due to further correction in banks. Nifty Bank index dropped 400 points as HDFC Bank, ICICI Bank, Kotak Mahindra Bank and SBI are top contributors to the index fall.
MK Jain has been appointed as RBI Deputy Governor for three years. He is currently the Managing Director and CEO of IDBI Bank.
All sectoral sub-indices were in the red with bank and financial services stocks bleeding the most.
The Reserve Bank of India will commence its 3-day Monetary Policy Committee meet today to decide the key policy rate.
BSE Sensex at 35,036 was down by 190 points, while NSE Nifty at 10,631 was lower by 65 points.
SSWL stock rose 2% after it has bagged an export order from US truck and trailer aftermarket for supply of approximately 9,500 truck wheels, which will be shipped from its Chennai plant later this month, the company said in an exchange filing.
BSE Midcap is trading lower by 0.44% and BSE Smallcap slipped by 1.45%, respectively.
Dr. Reddy's stock gained over 3% after Srikakulam plant was cleared by the US health regulator.
Dr. Reddy’s (+3.2%), Yes Bank (+2%), M&M (+1.3%), Lupin (+1.3%) and Tata Steel (+1.2%) were the top gainers.
Indiabulls HF (-2.3%), GAIL (-2.1%), Asian Paints (-2%), Bharti Airtel (-1.9%) and Infratel (-1.7%) were the top losers.
Out of 2,066 stocks traded on the NSE, 333 advanced, 1,360 declined and 373 remained unchanged today.
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