Sensex falls over 200 points, Nifty hovers around 10,000-mark

After opening the trade marginally lower today, Indian share markets continued their loss from with the Sensex declining over 168.97 points at 32307.77 and the Nifty was down 44.85 points at 10036.65 in the closing hours of trade. 

Though the Indices opened higher, it was subsequently slipped into the red after extending losses in morning trade after private survey indicated that India's services activity slumped in July. 

Reliance crossed a fresh record closing high of Rs 1655, up 1.6 %. Continuous selling pressure is visible in Metal, auto, financials, capital goods and banking stocks, on account of a 25 bps interest rate cut by the RBI. Investors were dissatisfied with just 25 bps rate cut by RBI. 

The SBI announced plans to raise over Rs 20 billion by issuing bonds. It aims to increase funds by allotting Basel-III compliant bonds valued above Rs 20 billion to various investors. The bonds will carry a coupon rate of 8.15 percent with a call option after five years.

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