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The Nifty and the Sensex closed marginally in the red on Eurozone woes and an erosion in rate sensitive scrips such as banking and auto ahead of the monetary policy.
The Nifty closed at 5,835 down 37 points while the Sensex closed at 19,293 down 134 points.
"The chances of a rate cut at the upcoming mid-quarter policy review still seem difficult even though we have seen positive data in recent times. Even the stock markets have also factored in the same. But in case we do not see any cuts then we might see a significant fall in stocks and rupee,’ said Abhishek Goenka, Founder & CEO, India Forex Advisors.
Volatility was up 4.55 per cent and the volatility index India Vix closed at 15.85.
Cipla, HCL Tech, Siemens, HUL and ITC were the top five Nifty gainers while Coal India, IDFC, Tata Power, Maruti and Ambuja Cement were the top Nifty losers.
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