Equity benchmarks stayed in a downward journey throughout the day on weakness in rate sensitives, FMCG and metals stocks after the Reserve Bank of India's recent moves to support the rupee. Nifty fell below the 6000 level and ended the day at 5990.50 down by 87 points while Sensex ended the day at 20090.68 tanks 211.45 points.
The Reserve Bank of India reduced the liquidity adjustment facility (LAF) for each bank from 1 per cent of the total deposits to 0.5 per cent, thus limiting the access to borrowed funds from the central bank.
It has also asked banks to maintain higher average CRR of 99 per cent of the requirement on daily basis as against earlier 70 per cent.
Among the sectoral indices CNX IT (0.86%) and CNX Pharma (0.23%) were only gainers while Bank Nifty (-4.62%), CNX PSU Bank (-4.28%) and CNX Finance (-3.95%) fell on fresh measures by the Reserve Bank of India to curb liquidity.
Out of the 50 stocks of Nifty 12 stocks ended in positive terrain and 38 ended in negative terrain.
Top 5 Nifty gainers: Bharti Airtel (2.08%), TCS (1.90%), Sun Pharma (1.83%), Cipla (1.67%) and Bajaj Auto (1.39%) were among top gainers.
Top 5 Nifty losers: IDFC (-9.02%), IndusInd Bank (-8.41%), JP Associate (-6.48%), Axis bank (-6.29%) and Kotak Bank (-5.82%) were top index laggards.
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