Sensex slides 113 pts as RBI holds policy rate

Benchmark Sensex fell over 113 points

in volatile trade to end at 34,082.71 today after the Reserve

Bank left the key policy rate unchanged but lowered economic

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growth projection for 2017-18.

The central bank kept the interest rate unchanged as

widely expected, but lowered economic growth projection to 6.6

per cent for 2017-18, from 6.7 per cent in its sixth bi-

monthly Monetary Policy statement today.

The 30-share index, which had bounced over 470 points in

the opening trade in sync with positive leads from global

markets, slipped into the negative zone as participants booked

profits at higher levels and hit a low of 34,008.42. It

finally finished at 34,082.71 points, down 113.23 points, or

0.33 per cent.

The barometer had lost 2,087.31 points in the previous

six straight sessions.

The wider NSE Nifty too ended 21.55 points, or 0.21 per

cent down at 10,476.70. Intra-day, it shuttled between 10,614

and 10,446.40.

The Reserve Bank opted for the widely expected status

quo in key rates citing inflation concerns and flagged risks

from wider fiscal deficit.

The repo rate, at which the central bank lends short-

term money, will continue to stay at 6 per cent. The reverse

repo, rate at which it borrows from banks and absorbs excess

liquidity, will remain at 5.75 per cent.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)