Indian benchmark indices turned lower on Tuesday as investors booked some profits following Monday’s sharp gains and remained cautious ahead of the Reserve Bank of India’s monetary-policy decision. The Nifty 50 fell 0.64% to 24,614.90, while the Sensex declined 0.27% to 78,428.95. Financial and IT stocks were among the major drags.
Market participants are also adjusting to the newly introduced closing-auction mechanism, which created unusual movements near Monday’s close. The RBI policy decision due Wednesday is now the key domestic trigger. Investors are widely expecting the central bank to maintain the repo rate at 5.25%, while its commentary on inflation, growth and liquidity will be closely watched.
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