Sensex falls over 280 points at closing; Nifty dips below 7,500-mark

Zee Media Bureau

Indian stock markets ended in red in closing after the Reserve Bank of India (RBI) left key rates unchanged, as widely expected.

The BSE sensex plunged 285 points or 1.15 percent to trade at 24,539 while the NSE Nifty fell down 115.20 points or 1.52 percent to trade at 7455.75.

Traders said bank stocks rallied on short squeeze in the absence of negative news from the RBI policy, adding the next trigger for markets would come from public sector bank results and the Union Budget.