After hitting record lows in rupee and crude touching multi-year highs, the National Stock Exchange (NSE) index Nifty fell sharply on Wednesday. Traders turned cautious ahead of the Monetary Policy Committee’s rate decision which is due on Friday.
Hence, it is expected to see the negative session in today’s trading session as well. In its previous trade, the Nifty opened below 11,000 at 10,982.70 from its previous close of 11,008.30 and lost all its gains at the end of the session and closed at 10,858.25. As a result, the index formed a bearish candle on the daily charts.
On the other hand, the Nifty Bank index closed at 25,069.90, down 297.10 points on Wednesday.