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Markets snap 3-day rally as RBI holds rates

The BSE Sensex shed about 200 points in intraday trade before closing lower by 0.35% or 97 points at 28,085

Ashley Coutinho  |  Mumbai 

Indian equities edged lower on Tuesday, snapping a three-day rally as the Reserve Bank of India (RBI) maintained status quo on key policy rates. Outgoing RBI governor Raghuram Rajan left the repo rate unchanged at 6.5 per cent and the cash reserve ratio at four per cent, citing inflationary pressures but repeated the central bank’s “accommodative” stance.

The BSE Sensex shed 200 points in intraday trade before closing lower by 0.35 per cent or 97 points at 28,085. The 50-share Nifty slipped 33 points to 8,678. Among broader markets, the BSE Midcap and Smallcap ...

First Published: Tue, August 09 2016. 22:47 IST
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