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Sensex slips 47 points as RBI holds policy rate
Benchmark Sensex retreated from its record high to end 47 points lower at 29,927.34 today after the Reserve Bank left the key policy rate unchanged.
Mumbai: Benchmark Sensex retreated from its record high to end 47 points lower at 29,927.34 today after the Reserve Bank left the key policy rate unchanged.
The 30-share index stayed in the red zone throughout the session, shuttling between 29,954.25 and 29,817.59, before finishing at 29,927.34, down 46.90 points, or 0.16 percent.
The wider Nifty hit a low of 9,218.85 before recovering partially to settle at 9,261.95, still down 3.20 points or 0.03 percent. It had touched a high of 9,267.95 and a low of 9,218.85 intra-day.
The Reserve Bank today left the repo rate unchanged at 6.25 percent. However, it hiked the reverse repo, or the rate it pays lenders, by 0.25 percent to 6 percent, thus narrowing the policy corridor.