Indian markets weaken after RBI holds key rates steady

Image
Reuters MUMBAI
Last Updated : Feb 02 2016 | 11:57 AM IST

MUMBAI (Reuters) - Indian financial markets fell after the Reserve Bank of India (RBI) kept its key policy rates unchanged on Tuesday, opting to wait for the government's annual budget statement at the end of February to decide on whether to cut rates further.

The benchmark BSE Sensex fell as much as 0.46 percent.

The Indian rupee fell to 67.9700/9750 compared with its previous level of 67.88 to the dollar before the announcement. The rupee had closed at 67.84/85 on Monday.

The 10-year benchmark bond yield rose 3 basis points to 7.81 percent from its previous close after disappointment over absence of any liquidity infusion steps from the central bank.

(Reporting by Mumbai treasury team; Editing by Anand Basu)

*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Feb 02 2016 | 11:52 AM IST

Next Story