Mumbai, Dec 6 (PTI) Market benchmark Sensex fell 218
points to quote at 32,584.66 in late afternoon trade today
soon after the Reserve Bank kept the policy rate unchanged at
6 per cent but raised the inflation forecast.
The six-member Monetary Policy Committee (MPC), headed by
Reserve Bank of India Governor Urjit Patel, in its bi-monthly
monetary policy review kept repo rate unchanged at 6 per cent
and reverse repo at 5.75 per cent.
The Sensex, which had lost 100 points in early trade,
continued its slide and fell 217.78 points, or 0.66 per cent,
The gauge had lost 67.28 points in the previous session.
Similarly, the NSE Nifty was trading lower by 78.70
points, or 0.77 per cent, at 10,039.55.
Interest-sensitive stocks took a beating, dragging the
BSE banking index down by 0.49 per cent. SBI, ICICI Bank, Axis
Bank, HDFC Bank, Bank of Baroda and Yes Bank fell by up to
1.44 per cent.
Selling pressure also gathered momentum in other stocks
such as Sun Pharma, Tata Steel, Hero MotoCorp, Bajaj Auto,
M&M, Adani Ports, Wipro, NTPC and L&T.
RBI today kept the policy rate unchanged at 6 per cent on
expected lines but raised the inflation forecast for remainder
of the current financial year to 4.3-4.7 per cent.
The central bank kept the economic growth forecast
unchanged at 6.7 per cent for the fiscal ending March 31. PTI
This is published unedited from the PTI feed.