The BSE Sensex and NSE Nifty50 traded around 50 and 60 percent low respectively during the intraday trade on Tuesday as banks and financial services saw mild selling pressure.
The Sensex was down 201.15 points at 40,604.02 while the Nifty traded 69.55 points lower at 11,978.65 at 1250 hours.
The Reserve Bank of India (RBI) will start its three day long bimonthly monetary policy committee meet on Tuesday. The central bank is widely expected to cut interest rates for the sixth straight time on December 5 despite a surprise spike in inflation.
RBI is likely to continue to focus on the sustained slowdown in India’s economic activity. The GDP figures released last week showed the second quarter growth rate at 4.5 per cent, a six-year low.
Meanwhile, Bajaj Auto, TCS, and Hero Motocorp were among the top gainers for the session with gains between 2.26 to 0.72 percent. Companies like, Yes Bank, Tata Steel, TML-D were the top laggards with losses between 4.92 to 4.01 per cent.
(With input from agencies)