Gold Silver Reports (GSR) – Indian equity benchmarks fell dragged by banks after the Reserve Bank of India decided to discontinue issuance of letters of undertaking (LoU) and letters of comfort (LoC) for trade credit for imports into India.
The S&P BSE Sensex fell 0.2 percent or 63 points to 33,792 and the NSE Nifty 50 index declined 0.28 percent or 28 points to 10,396.
All sector gauges barring the Nifty IT index were trading lower dragged by the Nifty PSU Bank index’s over 2 percent drop.
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Losses were broad-based as the S&P BSE MidCap and S&P BSE SmallCap indices declined 0.2 percent each.
