Mumbai, Oct 4: Extending losses for fifth consecutive session, the BSE Sensex tumbled down by 433.56 points to 37,673.31 after the Reserve Bank of India (RBI) slashed GDP growth forecast to 6.1 per cent from 6.9 per cent, earlier in its fourth bi-monthly monetary policy meeting on Friday.
Even heavy selling in Banks, Realty and Metal stocks also dampened the spirits of the investors. The National Stock Exchange (NSE) too dropped by 139.25 points to 11,174.75.
The equity market remained volatile today, as the Sensex jumped by 295 points to open at 38,401.49 ahead of RBI Monetary policy today. It further gained by 297 points to 38,403.54 a day high. After announcement of RBI's Monetary fourth bi-monthly it tumbled down nearly 473 points to 37,633.36 day low and finally it ended negative at 37,673.31, sliding by 433.56 points from its previous close.
The equity market crashed as the apex bank slashed GDP growth forecast to 6.1 per cent from 6.9 per cent. Even, heavy selling in Consumer Durable, Realty, Industrials, FMCG, Telecom stocks also dragged the market further, a broker said. In scrips, Kotak Bank, ICICI Bank, HDFC Bank, Tata Motors and L & T slipped. However, buying in TCS, Infosys, ONGC and Tech Mahindra capped from further decline, the broker added.
The S&P BSE Small-Cap index fell 0.79 per cent. The S&P BSE Mid-Cap index fell 0.94 per cent. The market breadth was weak. On the BSE, 976 shares rose and 1,638 shares fell. A total of 251 shares remain unchanged. In Nifty 50 index, 11 stocks advanced and 39 stocks declined. Most Asian stocks declined on Friday as investors turned cautious ahead of a key US job report that could help determine whether the Federal Reserve cuts interest rates further.(UNI)