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The benchmark Nifty on Friday fell the most in nearly two years and the rupee slid past 74 against the dollar after the Reserve Bank of India (RBI) kept the policy rates unchanged. The pause surprised the Street as it was expecting a hike to stem the fall in the currency. The Sensex plunged as much as 967 points intra-day amid a sharp sell-off in financial stocks. It, however, partially recovered to close at 34,377, down 792 points, or 2.25 per cent over the previous close.
The Nifty50 fell 2.7 per cent, the most since November 11, 2016, to end
