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Sensex falls 205 pts after RBI holds rate; banks bleed

Press Trust of India  |  Mumbai 

Benchmark dropped 205 points to end at 32,597.18 today after the RBI left the policy rate unchanged at 6 per cent but raised the forecast.

The six-member Monetary Policy Committee (MPC), headed by Reserve of Governor Urjit Patel, kept the policy rate unchanged on expected lines but raised the forecast for remainder of the current fiscal to 4.3-4.7 per cent.

The 30-share index declined by 205.26 points, or 0.63 per cent, to 32,597.18 after hitting a low of 32,565.16 soon after the central announced its policy rate.

The wider hit a low of 10,033.35 before finishing at 10,044.10, down 74.15 points or 0.73 per cent. It had touched a high of 10,104.20 in early trade.

The central kept the economic growth forecast unchanged at 6.7 per cent for the fiscal ending March 31.

Interest rate-sensitive stocks took a beating, dragging the index down by 1.23 per cent. SBI, Bank, Axis Bank, Bank, Bank of Baroda, and fell by up to 2.27 per cent.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, December 06 2017. 16:00 IST