(Reuters) - Indian shares and bonds reversed gains and turned sharply negative on Wednesday after the monetary policy committee unexpectedly kept the key policy repo rate unchanged at 6.25 percent.
A majority of the 56 analysts polled by Reuters had expected a rate cut of at least 25 bps, though 18 had forecast policy would remain unchanged.
The benchmark 10-year bond yield rose 18 basis points to 6.35 percent after the RBI kept rates unchanged.
The Nifty was trading down 0.44 percent at 0954 GMT. It had been up 0.5 percent earlier.
(Reporting by Samantha Kareen Nair in Bengaluru; Editing by Euan Rocha)
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