Sensex down 300 points; Nifty retest 7700 levels

The S&P BSE Sensex plunged over 300 points in trade on Tuesday following Asian markets, which were trading lower on renewed worries about global economic growth.The global investors are back to being cautious with worries related to China and overall growth of the global economy. In such a scenario all eyes are turned towards the Reserve Bank of India (RBI).

Most analysts on Dalal Street expect the RBI to slash policy rates by atleast 25 bps later today, but markets will will cheer if a surprise cut of 50 bps is announced by the RBI, say experts.
The 50-share Nifty index was also trading around its crucial psychological level of 7700, weighed down by losses in Pharma, auto, banks, and metal stocks.

Sensex: 25372.76, down 244 points; Nifty: 7718.35, down 77 points

Top Gainers

BHEL (0.7%), COAL INDIA (0.6%), INFOSYSBSE 0.35 % (0.3%), L&T (0.1%)

Top Losers:

VEDANTA (4.1%), ICICI BANKBSE -1.36 % (3.0%), AXIS BANKBSE -1.37 % (2.9%), BHARTI AIRTELBSE -2.41 % (2.5%), TATA STEEL (2.3%)