Sensex and Nifty Decline Amid Market Volatility and RBI Rate Decision Anxiety

The Indian benchmark indices Sensex and Nifty concluded a volatile session lower, marking eight consecutive sessions of decline. This downturn was driven by foreign fund outflows and apprehensions surrounding the RBI's pending interest rate decision. Key sectors displayed mixed performance, as global and domestic factors influenced market sentiments.

In a display of continued market volatility, India's benchmark indices Sensex and Nifty closed lower on Tuesday. This marked the eighth straight session of declines as foreign fund outflows persisted and investors remained cautious ahead of the Reserve Bank of India's upcoming interest rate decision.

The Sensex gave up early gains, dropping by 97.32 points or 0.12 percent to settle at 80,267.62, having swung between a high of 80,677.82 and a low of 80,201.15 throughout the session. Meanwhile, the NSE Nifty fell 23.80 points or 0.10 percent to 24,611.10, with metal and banking stocks advancing even as realty and consumer durable sectors faced pressure.

Among the Sensex constituents, ITC, Bharti Airtel, and Reliance Industries led the losses, while UltraTech Cement and Hindustan Unilever were among the top gainers. As the RBI's Monetary Policy Committee begins its three-day meeting, investors are closely watching for Wednesday's announcement, influencing global and domestic market dynamics.

(With inputs from agencies.)