Indian equities fell over 550 points, on Tuesday (July 29), because of CRR and Repo rate hike, hopeless worldwide signals and heavy selling action across the board.

The Reserve Bank of India (RBI) has raised the CRR (Cash Reserve Ratio) by 25 basis points to 9%. On the other hand, Repo rate has also been augmented by 50 basis points from 8.50% earlier.

However the Bank Rate kept unchanged.

After opening negatively (Tuesday, July 29) at 14,085.53, the 30-share Index slipped further on account of CRR and Repo rate hike news.

Finally the Sensex marked its closure ended the day with a big loss of 557.57 points at 13,791.54 after touching a low of 13,727.14. In contrast, the broad-based NSE Nifty lost 142.25 points and closed the day 4,189.85 after hitting a low of 4,159.15.

The overall market breadth was sharply negative as it experienced 963 advancements as against 1,672 declinations.

All sectoral indices traded in negative led by Bankex, which lost 8.31%, Realty fell 5.54%, Consumer Goods declined 4.92%, Power dropped 4.11% and Auto fell 4.04%. Rest all indices traded down marginally.

HUL (2.86%), Sterlite Industries (1.68%), TCS (0.27%) and Infosys (0.06%) were the major gainers in the 30-share index.

The major losers at the BSE Sensex included HDFC Bank, ICICI Bank, Reliance Infra, Maruti, SBI, Tata Motors, L&T, M&M, DLF and HDFC.