Indices shed early gains as RBI reviews rates

Key Indian equity indices shed all the gains in the last leg of the trading today after the Reserve Bank of India (RBI) kept repo rate unchanged.

However, the RBI expressed concern about the inflationary pressure due to rising global crude oil prices.

The Sensex, which opened at 34,563.30 points, ended the day 113 points lower at 34,082.71 from its previous session`s close, while Nifty was 0.21 points down.

The Sensex has so far touched a high of 34,666.33 points and a low of 34,059.59 points during intra-day trade.

However, on the BSE, there were 1986 advances and 788 declines.

Nifty Media and Realty indices gained over 1%.

On Tuesday, the key indices witnessed their steepest intra-day fall -- with the Sensex shedding a staggering 1,200 points before recovering by over 700 points.

The Sensex closed at 34,195.94 points, down 561.22 points or 1.61%, while the Nifty50 closed trade at 10,498.25 points, down 168.30 points or 1.58%.