Equities tumble after RBI keeps lending rate unchanged

5 Dariya News

Mumbai , 08 Feb 2017

Indian equities markets on Wednesday tumbled as the Reserve Bank of India (RBI) decided to keep its key lending rate unchanged at 6.25 per cent in its sixth and final monetary policy review for 2016-17.The key indices fell by around half a per cent immediately after the announcement by the central bank at 2.30 p.m.The Sensex of the BSE then traded at 28,182.56 points -- down 152.60 points or 0.54 per cent. Similarly, the Nifty of the National Stock Exchange (NSE) fell by 30.25 points or 0.34 per cent to 8,738.05 points.Later, the wider 51-scrip Nifty corrected itself and stood down by 14.05 points -- or 0.16 per cent -- at 8,754.25 points.The barometer 30-scrip sensitive index, which opened at 28,386.08 points, traded at 28,268.94 points (at 2.50 p.m.) -- down 66.22 points or 0.23 per cent from the previous close at 28,335.16 points.The Sensex has so far touched a high of 28,391.64 points and a low of 28,149.08 points during intra-day trade.The BSE market breadth was marginally tilted in favour of the bears -- with 1,433 declines and 1,392 advances.