Tuesday, May 28, 2024 | Last Update : 10:02 PM IST

  Business   Market  06 Apr 2017  Sensex remains in red as RBI keeps rate unchanged

Sensex remains in red as RBI keeps rate unchanged

Published : Apr 6, 2017, 3:24 pm IST
Updated : Apr 6, 2017, 3:24 pm IST

The 30-share index was quoting 62.87 points lower at 29,911.37 soon after RBI announced its review.

BSE building.
 BSE building.

Mumbai: Market benchmark BSE Sensex was trading lower by 63 points at 29,911.37 in late afternoon trade after the RBI kept its key policy rate unchanged.

The 30-share index, which had lost about 122 points in the opening trade, was quoting 62.87 points, or 0.21 per cent lower at 29,911.37 soon after the RBI announced its first bi-monthly monetary review of this fiscal.

The barometer had gained over 353.74 points in the previous two sessions.
The wider National Stock Exchange index Nifty dropped 21.55 points or 0.23 per cent to 9,243.60.

Brokers said RBI's decision to keep key interest rate unchanged was largely in line with investor expectations. The BSE banking index was trading little changed at 24,711.29 points.

However, the BSE Realty index was quoting 2.63 per cent higher at 1,715.19 points. Among rate sensitive scrips, ICICI Bank fell 0.93 per cent to Rs 282.20, while state-run SBI was down 0.29 per cent at Rs 295.85.

The RBI left the short-term lending rate or repo rate unchanged at 6.25 per cent, and the cash reserve ratio static at 4 per cent. The central bank also projected the GDP growth for the current fiscal at 7.4 per cent, up from 6.7 per cent in

RBI also projected inflation at 4.5 per cent for the first half of 2017-18.

Tags: sensex, bse, markets, benchmark index, rbi policy, repo rate, monetary policy
Location: India, Maharashtra, Mumbai (Bombay)