India's reserve position with the International Monetary Fund fell by $3 million to about $5.23 billion in the reporting week, the data stated.
The apex bank stated that the fall in reserves was on account of a fall in the foreign currency assets (FCAs) which is a major component of the overall reserves.
While Reliance Industries Limited (RIL), Hindustan Unilever Limited and Bharti Airtel saw erosion in their market valuation.
The market breadth was positive, with more than two stocks gaining for every one decline.
If consumption stocks make a comeback, it would indicate that the lack of credit – which had hampered the stocks in the sector – was perhaps ending, pointing to a better future.
The RBI may have to make efforts to step-up its forex reserves, says the Jalan Committee report, pointing to a not-too-comfortable a picture, unlike the impression being given by the government.
The dollar rose against a basket of major currencies overseas, with investors cautiously awaiting news on the implementation of US tariffs on an additional USD 200 billion of Chinese imports, forex dealers said.
Congress leader Rahul Gandhi arrives at Parliament during its Winter Session, in New Delhi.PTI Photo/Kamal Singh
Union Agriculture Minister Narendra Singh Tomar during the Winter Session of Parliament, in New Delhi.PTI Photo/Kamal Singh
Union Commerce and Industry Minister Piyush Goyal with Parliamentary Affairs Minister Pralhad Joshi during the Winter Session of Parliament, in New Delhi.PTI Photo/Kamal Singh
Congress leader Anand Sharma interacts with AAP MP Sanjay Singh, during the Winter Session of Parliament, in New Delhi.PTI Photo/Manvender Vashist
TMC MP Nusrat Jahan during the Winter Session of Parliament, in New Delhi.PTI Photo/Manvender Vashist
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