Money on the markets

A maturing market amid the mayhem

Sensex remains choppy despite rate cut

Photo
-

The BSE Sensex closed 0.74 percent lower on Tuesday, tracking weak Asian markets and a downward bias of growth forecast by the RBI.

The benchmark closed 81.39 points lower at 10,898.11, while the Nifty ended 0.35 percent down at 3,365.30.
INDIA-ECONOMY/RATESThe Sensex fall was led by ICICI Bank, L&T, Infosys and SBI.

The Reserve Bank of India (RBI) in its latest policy review slashed its repo and reverse repo rates by 25 basis points each, but left the cash reserve ratio unchanged at 5.0 percent.

The central bank has moderated its growth forecast to 6 percent for the year 2009/10 from 6.5-6.7 percent.

  •