The NSE Nifty was up 11.95 points, or 0.14 per cent, at 8,445.35.
Mumbai: The Sensex was down 660.61 points or 2.37 per cent at 27188.38, and the Nifty fell 196.95 points or 2.34 per cent to 8236.45.
About 828 shares have advanced, 1860 shares declined, and 145 shares are unchanged.
Room for more rate cuts in India may open up if monsoon rains are better than expected or if the government takes steps to prevent food prices from rising and if global oil prices remain low, said Reserve Bank of India (RBI) Governor Raghuram Rajan on Tuesday.
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