The much-awaited meeting between nine Congress members of Parliament from Telangana and Lok Sabha Speaker Miera Kumar could not take place, as the legislators ran late for the appointment.
The Sensex closed down 308 points at 24,894 and the Nifty has lost 96 points at 7,559.
Natco Pharma, Wockhardt and Marksans have rallied between 50 and 70 per cent in the year till date.
The higher rate cut by RBI is positive for rate-sensitive sectors in the medium to long term.
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