Sensex falls over 190 points while Nifty around 16,360 in early trade
- Sensex fell 193.55 points to 54,913.79, while the Nifty slipped 50.95 points to 16,365.40
- Rupee rose 9 paise to 77.69 against the US dollar
- Brent crude rose 0.07% to USD 120.66 a barrel
Even after a strong start, benchmark indexes fell on Wednesday, with the Sensex losing 69 points in early trade ahead of the RBI's policy outcome.
Despite beginning in the green, the Sensex fell 68.73 points to 55,038.61 in early trade. The broader Nifty was down 13.15 points at 16,403.20.
The Sensex later fell 193.55 points to 54,913.79, while the Nifty fell 50.95 points to 16,365.40.
Nestle, Asian Paints, Sun Pharma, HUL, Maruti, ITC, and UltraTech Cement were the Sensex pack's top laggards.
Tata Steel, NTPC, Axis Bank, and State Bank of India, on the other hand, were among the gainers.
"Indian markets will react to the outcome of the three-day Monetary Policy Committee meeting that will be released by the RBI today," said Mohit Nigam, Head - PMS, Hem Securities.
On Tuesday, the BSE benchmark fell 567.98 points, or 1.02%, to 55,107.34. The Nifty dropped 153.20 points, or 0.92%, to 16,416.35.
According to stock exchange statistics, foreign institutional investors sold shares worth a net Rs 2,293.98 crore on Tuesday.
Meanwhile, the international oil benchmark Brent crude rose 0.07% to USD 120.66 a barrel. In early trade on Wednesday, the rupee rose 9 paise to 77.69 against the US dollar.