The NSE Nifty settled the day 96.80 points, or 0.94 per cent lower, at 10,224.95
Despite a slowing economy, the Budget does not envisage any major stimulus through the budgeted fiscal deficit figures, said Goldman Sachs.
The Indian stock market, hit by global fears and a high inflation-interest rate regime, has been the second-worst performer in Asia this calendar year - a shade above Bangladesh.
Factory growth picked up in May.
Balance is needed in selecting members for the proposed monetary policy committee, says Abheek Barua.
'A sum of Rs 6,000 a year is very significant for a small farmer whose land holding is very small and whose produce is very small. All these calculations on a daily basis are extremely unfortunate and an insult to farmers.'
Gold-silver ratio indicates more upsurge possible for the white metal.
If credit is not going to flow in response to a policy rate cut, while inflationary pressures, as well as expectations, may be stoked, a rate cut may not be appropriate at this point
The central bank's currency management will be critical over the next few months. A weaker rupee could help to revive exports. But, the currency must fall slowly and in controlled fashion, says Devangshu Datta.
Canada was behind India at the fifth place with 65 per cent economically confident citizens.
The Reserve Bank of India, in its monetary policy for 2011-12 released earlier this month, had said that international commodity prices are a major area of concern.
Today, with growth having slowed and macro-economic challenges in every direction, would the government have benefited from the advice of 'Harvard' economists? asks T N Ninan.
He assured fears of food shortages were far-fetched.
The 50-share Nifty scaled a high of 10,207.90 intra-day but succumbed to profit-booking to finish at 10,184.15, up 53.50 points
The previous bout of Fed withdrawal fears had threatened to spark a crisis of confidence in India -- sending the rupee to a record low of 68.85 in late August and leading to steep falls in bonds and stocks.
CRR to remain unchanged at 4.00 pc this fiscal
Brokers said a flurry of buying by investors in blue-chips mainly influenced the sentiment.
It won't be an easy ride for the markets, reckon experts, considering the multiple state elections in 2018 and general elections next year.
China's economy expanded by 11.1 per cent in the first six months from a year earlier after recording growth of 10.3 per cent for the second quarter, compared with the 11.9 per cent rise in the first quarter.
If June 2010 diesel price is taken as the base, then the increase is a mere 2 per cent. By contrast, petrol prices have gone up by 23 per cent in the same period.
Despite misgivings about India's economic performance, investors have not lost faith in the country's long-term growth trajectory.
'If we do not burn the residue, wheat sowing will be delayed and that will ultimately affect the yield'
The 50-share Nifty bounced 83.35 points, or 0.86 per cent, to 9,794.15 at close.
"The poor will not suffer disproportionately due to bouts of sharp inflation, and the middle class will not see its savings eroded," Raghuram Rajan said.
The downslide on bourses on wiped off over Rs 1,22,000 crore from the market wealth, including that of company promoters and public investors, as huge losses were seen in blue-chip stocks like RIL, ITC and TCS.
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According to the global financial services major, the primary concern for the RBI at the moment has to be anchoring elevated inflation expectations and stabilising the currency, which could face renewed pressures if the Fed begins QE tapering this week, as widely expected.
The indices had recovered from its lowest in four-weeks after investors took to bargain hunting in select sectors in mid-morning trades but dropped following weakness in banking space.
We love a leader who oozes authority and firmness, notes Virendra Kapoor.
The broader NSE Nifty, in a volatile session, recaptured the key 11,300-mark. It ended at 11,369.90, up 82.40 points or 0.73 per cent.
Risk aversion is currently a dominant depressant to economic recovery, points out Shankar Acharya, former chief economic advisor to the Government of India.
Sending money to families in India will get more expensive
The upcoming general elections will be the focus and the economy and market performance will pivot around that event. The general consensus is that the India stock market should be up around 10 per cent by the end of the year.
Irrational behaviour, born out of incomplete understanding, biases, overconfidence, fear or greed, has led investors to make less than half of what they could have in the capital markets, says Erik Hon.
Nothing is going to dramatically open up on May 3. There will be too many ifs and buts and terms and conditions and guidelines in leading one's life in various zones, reveals Sheela Bhatt.
SBI was the biggest loser in the Sensex pack, shedding 2.40 per cent, followed by Yes Bank, Bharti Airtel, L&T, Sun Pharma, M&M, ICICI Bank, ONGC, RIL, Asian Paints, Vedanta and HUL, which lost up to 2.37 per cent.
Indian firms have seen a significant fall in orders in the year-to-date period.
Rangarajan, who was answering questions on onion prices touching Rs 100 per kg in some cities, said the impact on inflation would not last long.
Both the Sensex and Nifty hit their lowest levels in this calendar year.
Reliance Industries on Friday dubbed as a "canard" allegations that the near-doubling of natural gas prices will lead to a similar hike in domestic cooking gas (LPG) and inflation in food item rates.
State Bank of India's chairman O P Bhatt on Monday said that interest rates are likely to go up in the coming months if the Reserve Bank of India (RBI) tightens its monetary stance.
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