Sensex extends losses after RBI policy

The Sensex has slipped back to lower following the RBI credit policy announcement. The RBI today in its annual credit policy review has cut repo and reverse repo rates by 25 basis points. The central bank, however, has kept the CRR unchanged at 5%.

Following which, the index is now down 151 points at 10,828. Earlier in the day, the index opened with a negative gap of 214 points at 10,765, but recovered and touched a high of 10,926.

Tata Motors has slumped nearly 7% to Rs 229.

Tata Steel and Sterlite have plunged around 6% each to Rs 247 and Rs 375, respectively.

ICICI Bank has tumbled nearly 5% to Rs 406. Reliance Infrastructure has dropped 4.5% to Rs 665.

Jaiprakash Associates has slipped 4% to Rs 113. SBI and DLF have declined around 3.5% each to Rs 1,249 and Rs 223, respectively.

ITC, however, has gained 1.5% at Rs 187.