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
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
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.)
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