Mumbai: Global markets weighed on Indian investors' sentiments. The Sensex was down 242.74 points or 0.9 per cent at 25665.27 and the Nifty slipped 74.50 points or 0.96 per cent at 7672.05.
About 1496 shares have advanced, 1479 shares declined, and 116 shares are unchanged. Infosys, M&M, Reliance, BHEL and HUL are top gainers while ITC, ICICI Bank, Sesa Sterlite, Axis Bank and Bharti were among major losers in the Sensex.
A day after he lowered SLR, the mandatory government bond holding requirements for banks, Reserve Bank Governor Raghuram Rajan said RBI is all for reducing "pre-emptions" over a longer horizon for more efficiency in the financial system.
"The broader, longer term programme of five years, is that we should reduce the amount of pre-emptions we have in the system including SLR and make a more effective priority sector lending (PSL) process," Rajan said during the customary post-policy call with analysts.
Rajan drew attention towards the Nachiket Mor committee on PSL and said that the RBI is trying to make the entire process more effective.
Clamping down on an illegal scheme assuring high returns to investors for investment in land, Sebi has barred HNC Infrastructures & Shares India and its directors from raising any funds from public as well as from floating any new schemes.
Based on its preliminary findings into the scheme by HNC Infrastructures, the Securities and Exchange Board of India (Sebi) found that the Madhya Pradesh-based company was running a 'collective investment scheme' (CIS) without requisite approvals and registration from the market regulator.
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