Sensex down by 86 pts within minutes of RBI rate hike
The BSE benchmark Sensex was down by 86 points within minutes of the Reserve Bank of India's move to raise short-term borrowing and lending rates on Thursday.
The 30-share index of the Bombay Stock Exchange, which has been on a gaining streak for the last seven sessions, was 86.05 points down, at 19,416.06, at 1215 hours, with blue- chips like Reliance Industries and Infosys losing ground.
Similarly, the National Stock Exchange index Nifty lost 30.50 points to 5,830.45 as investors reacted to the RBI action.
In its first-ever mid-quarter policy review meeting on Thursday, the RBI hiked the short-term borrowing rate by 0.50 percentage points and the lending rate by 0.25 percentage points.
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