Sensex and Nifty snapped a three-day rally on Thursday. The Sensex fell 504 points to 83,314 while Nifty dropped by 133 points to 25,643. Heavy selling in metal, IT, and capital goods stocks, along with global market weakness and US-Iran tensions, dampened investor sentiment ahead of the RBI’s policy announcement

The rupee gained 7 paise to trade at 90.40 against the US dollar in early trade on Thursday, moving in a narrow range as investors awaited confirmation of the India-US trade agreement and cues from the RBI’s interest rate decision. Corporate dollar demand limited gains, while softer crude prices provided some support