Sensex and Nifty Fall While Rupee Gains After RBI Slashes Repo Rate by 25 bps
The benchmark BSE Sensex was down 0.28% at 39,972.64 while the broader NSE Nifty was 0.43% lower at 11,971.15.
Representative image (Reuters)
Bengaluru: Indian shares continued to trade lower, while 10-year bond yield fell and the rupee strengthened, after the central bank cut its benchmark interest rate by 25 basis points on Thursday, in a widely-expected move.
The Reserve Bank of India (RBI) also changed its monetary policy stance to "accommodative" from "neutral" after last week's dismal inflation data.
The benchmark BSE Sensex was down 0.28% at 39,972.64 while the broader NSE Nifty was 0.43% lower at 11,971.15 at 0632 GMT
The 10-year benchmark government bond yield fell to 6.8798% after the central bank's decision, compared with Tuesday's close of 7.0223%. The rupee, which had weakened to 69.36 against the dollar ahead of the RBI decision, strengthened to 69.2875. This was still weaker than the previous close of 69.265.
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