Home / Opinion / Online-views /  Markets plunge by 1% as RBI keeps rates unchanged

Mumbai: The BSE benchmark Sensex nosedived by 194 points on Thursday in late morning trade soon after RBI kept rates unchanged in its mid-quarterly review of the monetary policy.

After falling over 103 points in early trade, the 30-share index fell further by 193.61 points, or 1.08% to trade at 17,725.69 at 11:30am.

Brokers said the fall was more pronounced in financial stocks as the RBI kept key policy rates unchanged much against the anticipation of the investor community.

Investors were expecting the central bank would cut interest rates to give a boost to economic growth. All the sectoral indices, led by banking and consumer durables, were trading in the negative zone with losses up to 2.09%.

The banking index fell by 2.09% as State Bank of India fell by 2.34% to 2,296.55 and ICICI Bank was down 2.71% to 928. HDFC Bank was also down 1.50% to 519.15.

The broad-based National Stock Exchange index Nifty dipped below 5,400 points level by losing 65.45 points, or 1.12% to 5,398.45 points. “Participants, who created

Meanwhile, in Asia, Hong Kong’s Hang Seng was down 0.02%, while Japan’s Nikkei rose by 0.62%.

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