Britain's 'remain' option gaining traction, with the implied probability of such an outcome at 78 per cent.
Weakness in euro against the dollar weighed on the rupee.
As FY20 Budget fiscal measures need to be better understood, a reversal of the stance back to neutral will allow MPC flexibility to respond to incoming data.
Among the Sensex pack, Yes Bank, L&T, HDFC, RIL, HDFC Bank, PowerGrid and Coal India were the biggest losers -- falling up to 2.43 per cent.
While the Fed and the ECB slash and raise rates when needed, the RBI seems to move in just one direction.
Over the past week, the Sensex and the Nifty continued the bull-run
The trading range is expected to be within 63.00 to 63.80.
Gold sentiment is turning positive as investors are more concerned about sluggish US growth, spreading impact of sub-prime housing woes, which could weigh on dollar.
The IMF said global growth is projected to reach 3.9 per cent in 2018 and 2019, in line with the forecast of the April 2018 WEO, but the expansion is becoming less even, and risks to the outlook are mounting.
In the Sensex pack, Sun Pharma was the biggest gainer, rallying 4.48 per cent, followed by Bajaj Auto, Tata Motors, Coal India, Hero MotoCorp, Maruti and HCL Tech, rising up to 3.01 per cent. While, RIL, PowerGrid, HDFC, L&T, IndusInd Bank, NTPC and Bajaj Finance declined up to 1.50 per cent.
The greenback's strength against other Asian currencies and lacklustre local equity markets made the rupee depreciate.
Among Sensex components, shares of Reliance Industries, India's largest company by market value, stole the show by surging 1.61 per cent to their highest in over three months.
The overall momentum is very strong, said the company CEO.
If the impact of the Greece crisis spreads across Europe and parts of the world which are more interconnected than ever before, India cannot hope to be insulated, says Paranjoy Guha Thakurta.
Forex dealers attributed the fall to increased demand for the dollar.
With Greeks' rejection of rescue package from creditors spooking markets, the government on Monday asserted that India is well insulated from the crisis but rupee may be affected due to the outward flight of investment.
Given the volatility of the global marketplace, India is already on a strong wicket and well poised to provide a lucrative option to foreign investors.
NSE Nifty, after shuttling between 10,809.60 and 10,725.90, finished 30.95 points, or 0.29 per cent lower at 10,741.10.
Gold prices fell by Rs 100 to Rs 28,300 per 10 grams at the bullion market on Tuesday.
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Pranab Mukherjee, who himself was Finance Minister, said he was 'not disappointed' by the current economic situation in the country.
Sensex has shed over 150 points in afternoon trade.
'India cannot expect to be insulated from the crisis. Europe is India's biggest trading partner with two-way trade of E72.5 billion or Rs 530,000 crore last year,' says Paranjoy Guha Thakurta.
Tracking a steep fall in local share market, the Indian rupee on Tuesday washed out initial gains and ended with a loss of 16 paise
ICICI Bank was the top gainer in the Sensex pack, surging 4.64 per cent, followed by Axis Bank at 3.86 per cent and SBI 2.53 per cent.
Reflecting the bearish mood, all sectoral indices, led by metal, teck and healthcare, ended in the negative zone.
Meanwhile, investors pulled out a record $14.45 billion out of bond funds tracked by EPFR Global, as fears that US monetary policy will tighten in the second half of the year prompted more investors to head for the exits.
The rupee has lost 32 paise, or 0.50 per cent, in five trading days
Among the Sensex losers, Yes Bank tumbled 5.46 per cent, followed by Bajaj Finance 5.40, ICICI Bank 3.82 per cent, IndusInd Bank 3.10 per cent and HeromotoCorp 2.55 per cent.
This is the highest closing for both the indices since May 15.
In the Sensex pack, M&M was the biggest loser, tumbling by 6.66 per cent, followed by TCS dropping 4.14 per cent.
The fall came on the back of a massive selloff in NBFCs, led by DHFL which skidded over 50 per cent on fears of a liquidity crisis.
Rupee rises by 16 paise against dollar on fresh selling.
A weak rupee, though seemingly good for exporters, would push up input cost further for Indian companies.
IMF policymakers have said they will come up with ideas on how to push ahead with reform by mid-December.
The broader NSE Nifty closed 1.25 points, or 0.01 per cent down at 10,564.05.
While business, humanities and engineering programmes at the undergraduate level start at 10,000 (annually), candidates should make provision of 8,000-12,000 (approx Rs 6 lakh to 10 lakh) towards living expenses annually, says Sushil Sukhwani.
Yes Bank was the top gainer in the Sensex pack, surging 3.76 per cent, followed by SBI at 3.18 per cent.
Sustained FII inflows and fresh spell of buying by domestic institutional investors fuelled the rally
Increasing migration to cities and urbanisation along with interest from buyers to invest in real estate market, will continue to be the prime demand drivers, according to assurance, tax and advisory firm Grant Thornton.
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