A benchmark index of Indian equities markets fell 449 points after RBI hiked its key policy interest rate
A benchmark index of Indian equities markets fell 449 points on Friday after the Reserve Bank of India (RBI) hiked its key policy interest rate by 0.25 percent, which will make home, auto and other loans costlier.
Selling pressure was observed in banking, capital goods, auto, public sector undertakings (PSUs), oil and gas, metal and fast moving consumer goods (FMCG) sectors. However, some positive trade was seen in consumer durables and healthcare sectors.
The 30-scrip sensitive index (Sensex) of the S&P Bombay Stock Exchange (BSE), which opened at 20,616.35 points, was ruling at 20,197.43 points in the afternoon trade, down 449.21 points or 2.18 percent from the previous day’s close at 20,646.64 points.
The Sensex touched a high of 20,677.99 points and a low of 20,051.43 during the trade so far.
The S&P BSE bankex tanked by 661.06 points, capital goods index slumped 323.13 points, auto index plunged 218.05 points, PSU index dipped 148.58 points, oil and gas index dropped 147.59 points, metal index slipped by 139.83 points and FMCG index went down by 130.63 points.
The wider 50-scrip Nifty of the National Stock Exchange (NSE) was also trading in the red at 118.15 points or 1.93 percent down at 5,997.40 points.
-IANS
