The BSE benchmark Sensex on Thursday settled at 192.40 points lower at 38,684.72 while the 30-share BSE index also drops by 45.94 points to end at 11,598.
TCS was the biggest loser in the Sensex pack, sliding 3.17 per cent, followed by HCL Tech, Yes Bank, IndusInd Bank, RIL, ICICI Bank, Infosys, Tata Steel, Kotak Bank and L&T, down up to 2.34 per cent. On the other hand, Tata Motors, Hero MotoCorp, Bharti Airtel, HDFC, Asian Paints, Vedanta and Sun Pharma were among the top gainers, rising up to 2.49 per cent.
Sectorally, BSE IT, energy and oil and gas indices suffered most losses, shedding up to 1.53 per cent. Rate-sensitive stocks ended on a mixed note, with the BSE auto and realty indices ending in the green with gains of up to 0.61 per cent. BSE bankex, however, ended 0.67 per cent lower. Broader indices too ended in the red, with the BSE Midcap and Smallcap slipping up to 0.32 per cent.
The RBI’s Monetary Policy Committee (MPC) is holding a three-day meeting between April 2-4 for the first policy statement for financial year 2019-20.
According to experts, RBI is expected to cut rates by 25 basis points and adopt a pro-growth stance. However, expectation of poor rainfall and already slow economic growth alongside subdued inflation may pressurise RBI to go for a higher rate cut.
Market sentiment was also subdued after foreign investors turned net sellers in the previous trading session, traders said.
Foreign institutional investors (FIIs) pulled out Rs 1,040.48 crore on Wednesday, and domestic institutional investors (DIIs) sold equities to the tune of Rs 80.83 crore, provisional data available with stock exchanges showed.
In Asia, Korea’s Kospi rose 0.15 per cent, Japan’s Nikkei inched up 0.05 per cent and Shanghai Composite Index gained 0.94 per cent. Hong Kong’s Hang Seng declined 0.17 per cent.
In Europe, Frankfurt’s DAX was down 0.03 per cent, Paris CAC 40 fell 0.31 per cent, while London’s FTSE slipped 0.57 per cent in early deals. The benchmark Brent crude futures fell 0.39 per cent to USD 69.04 per barrel.
Meanwhile, the rupee depreciated 63 paise to 69.04 against the US dollar intra-day.
(With inputs from PTI)