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Markets close at 25-month low

 

AGENCIES | Mumbai, December 16, 2011 16:59
Tags : sensex | share market | losses | tumble | rolling down | BSE | NSE | RBI | falling | rupee | Capital goods | Nifty | Pranab Mukherjee | D. Subbrao |
 

 

The National Stock Exchange's Nifty closed below psychological level of 4700 for the first time since November 2009 as institutional investors sold shares across the board after the Reserve Bank of India policy review failed to boost sentiments. 
 
The RBI in its much awaited meet kept the key interest rates unchanged. Repo rate is at 8.5 per cent, reverse repo rate continues to be 7.5 per cent and CRR unchanged at 6 per cent. 
 
Commenting on rate cuts, RBI Governor D Subbrao said he cannot speculate when the cuts will begin and added that "rate cut is an event some way ahead." 
 
Reacting to RBI's move, Finance Minister Pranab Mukherjee said the decision would improve business sentiment and recover the growth momentum. 
 
The Nifty closed at 4654.75, down 91.60 points or 1.93 per cent. The broader index touched a high of 4818.85 and low of 4653.50 in trade so far. 
 
The Bombay Stock Exchange's Sensex ended at 15491.79, down 344.68 points or 2.18 per cent. The 30-share index touched intraday low of 15425.20 and high of 16068.90. 
 
BSE Capital Goods Index fell 4.51 per cent, BSE Realty Index declined 3.53 per cent and BSE Bankex moved 3.21 per cent lower
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Issue Dated: Feb 5, 2017