Dear Trader…
Bears were holding a tight grip over the Dalal Street in today deals, with both Sensex and Nifty falling over a percent, on the back of negative cues from other Asian markets. Heavy selling at Utilities and Power counters kept equity indices down, while Tata Steel fell the most on the BSE. Sentiments remained negative as RBI Monetary Policy Committee (MPC) member Jayanth R Varma said that India’s economic growth is now ‘extremely fragile’ and needs all the support that it can get, as private consumption and capital investment are yet to pick up.
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