A morning walk down Dalal Street | Buy on dips as long as Nifty sustains above 10,782
Episode 1529, Aug 07, 2019, 01:30 AM
Indian markets saw a rebound on expectations of a rate cut by the RBI but trade war woes capped gains.
The S&P BSE Sensex, which was up 540 points, failed to hold on to gains and closed below 37,000.
The Nifty50 also failed to hold onto 11,000 levels as concerns over the US-China trade war, currency woes, and outflows from foreign investors’ capped gains.
The final tally on D-Street: the S&P BSE Sensex rose 277 points to 36,976, while the Nifty50 closed 85 points higher at 10,948 on August 6.
The broader markets outperformed the benchmark, with BSE Midcap and BSE Smallcap ending with gains of 1.4 percent and 1.7 percent, respectively.
The Indian rupee extended losses for a fourth session on Tuesday, dropping 8 paise to 70.81 against the US dollar ahead of the RBI's monetary policy decision.