Benchmark indices settle the day flat as RBI kept its policy rate on hold at 6.25% for a second meeting in a row, opting to wait for more clarity on the trend for inflation.
The Central Bank also changed its policy stance to 'Neutral' from 'Accommodative' and FY17 GVA target was lowered to 6.9% from earlier target of 7.1%.
Sensex fell as much as 160 points as soon as the policy was announced while Nifty breached its crucial 8,750 levels. Earlier this week, both indexes had hit a four-month high on rate-cut hopes.
The S&P BSE Sensex
The Central Bank also changed its policy stance to 'Neutral' from 'Accommodative' and FY17 GVA target was lowered to 6.9% from earlier target of 7.1%.
Sensex fell as much as 160 points as soon as the policy was announced while Nifty breached its crucial 8,750 levels. Earlier this week, both indexes had hit a four-month high on rate-cut hopes.
The S&P BSE Sensex
