Indian benchmark indices fall on global cues and RBI maintaining its key monetary policy rates
The indices were also affected by the Reserve Bank of India's decision (RBI) to keep its key policy rates unchanged on Tuesday and its stance to wait for the government's annual budget statement on Feb 29 to decide whether or not to cut the rates.
RBI Governor Raghuram Rajan on Tuesday chose to keep the policy repo rate unchanged on inflation concerns even as he emphasised that itnews-busines continues to be accommodative.
On Tuesday, Asian shares put up a lack-lustre performance as crude oil prices slid on fears of likely oversupply fears and after downbeat manufacturing data raised concerns about a global slowdown.
The contraction seen in the manufacturing sector in the world's second-largest economy, China, in January--at the fastest pace since 2012--also heightened the negative sentiment of the Asian market.
The Indian rupee fell by 12 paise to trade at 67.96 against the US dollar.
Image: Wikimedia Commons
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