India’s banking system liquidity surplus narrowed to ₹75,483 crore due to advance tax outflows and forex market interventions. This pushed money market rates up, prompting the RBI to conduct a repo operation. Economists estimate the RBI sold over $15 billion to support the rupee.
Market Wrap: Sensex falls 142 points, Nifty holds 23,900; HDFC Bank shares tumble 3%
Indian stock market closed in the red, with benchmark indices Sensex and Nifty falling up to 0.2% as Iran-US tensions simmered and rupee declined. Broader