Indian Stocks fall as foreign and domestic institutional investors sell - LuvKush Finserve

Stocks fell for the fourth straight day on Wednesday as foreign and domestic institutional investors sold amid worries the government may refrain from implementing unpopular decisions after a key ally pulled out of the ruling coalition.

Mid and small-cap shares led the decline in the markets with investors pulling money out of riskier stocks on concerns the sell-off will continue for a while. Benchmark indices dropped less than a per cent on Wednesday with the Sensex falling below 19,000 for the first time in two weeks.

BSE's Sensex fell 123.91 points or 0.65% to close at 18,884.19. NSE's Nifty declined 51.55 points or 0.90% to end at 5,694.40. Shares of banks were among the top losers on Wednesday after the Reserve Bank of India's cautious monetary policy outlook on Tuesday poured cold water on earlier hopes that there could be aggressive rate cuts over the year. Investors were pinning hopes on banks' bond portfolios churning profits if the central bank cut rates at a faster pace. BSE's Mid-cap fell 1.9% while small-cap index dropped 2.3%.

Source : Equity Bulls

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