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.

Also Read| RBI MPC meet: When and where to watch Shaktikanta Das’ address live

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.

Also Read| RBI MPC meet: What to expect from the central bank today

“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.

Also Read| Trade Setup: Top 15 things to know before market opens on June 8, 2022

Markets in Seoul, Tokyo, and Hong Kong were trading higher, while Shanghai was trading down. On Tuesday, stock markets in the United States ended higher.

According to stock exchange statistics, foreign institutional investors sold shares worth a net Rs 2,293.98 crore on Tuesday.

Also Read| Trending Stocks: Religare, Zydus, Wockhardt and others in news today

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.