Sharemasterindia.com: The BSE Sensex fell as much as 445 points, while the broader Nifty slumped 130 points below 8,300 post Reserve Bank’s policy announcement. The sharp selloff in stock markets came even though the RBI cut its repo lending rate by 25 basis points to 7.25 per cent.
Sharemasterindia.com: Reserve Bank Governor Raghuram Rajan on Tuesday cut the repo lending rate by 25 basis points to 7.25 per cent. The move was widely anticipated given RBI’s comfort with consumer price inflation and the marked slowdown in industrial growth.
9:40 a.m.: Sensex fell over 200 points in the morning deals on Tuesday ahead of Reserve Bank of India’s bi-monthly monetary policy review.
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The BSE benchmark Sensex ended Monday’s rangebound session on a flat note.
The 50-share Nifty ended below its crucial psychological level of 8,450 as gains in blue-chip stocks such as Reliance Industries, Maruti Suzuki and Larsen & Toubro were offset by losses in Sun Pharma, Tata Motors, Bharti AIrtel and ONGC.