India Markets closed

Sensex drags lower by 127 points, metals and banking stocks top losers

Fresh trade war fears and profit-booking by traders led equity indices to fall on December 03 amid expectations of another interest rate cut by the Reserve Bank of India (RBI) later this week. The BSE SandP Sensex closed 127 points lower to 40,675 while the Nifty 50 was down by 54 points at 11,994. Except for Nifty IT and realty, all sectoral indices at the National Stock Exchange were in the red. Nifty PSU bank fell by as much as 2.8 per cent, metal by 2.6 per cent, media by 2.3 per cent and pharma by 1 per cent. Among stocks, Yes Bank tumbled by 7.57 per cent to close at Rs 59.20 per share as analysts questioned the quality of potential suitors who have promised to invest a total of two billion dollars. IndusInd Bank too slipped by 2.2 per cent to close at Rs 1,542.15 per share. Metal stocks took a beating with Tata Steel dipping by 5.2 per cent.