Weekend Markets: Sensex closes 215 points lower, RBI keeps rates unchanged

Indian share market benchmark Sensex dropped 215 points on Friday, tracking losses in index heavyweights Reliance Industries, HDFC and SBI, after the Reserve Bank of India kept interest rates unchanged and maintained its accommodative stance. At close, The 30-share baromoter ended 215.12 points lower at 54,277.72, while the broader NSE Nifty slipped 56.40 points to 16,238.20.

Reliance Industries was the top loser in the Sensex pack, falling over 2  percent, followed by UltraTech Cement, SBI, Tata Steel, HDFC and Axis Bank. ON the upper side, IndusInd Bank, Bharti Airtel, Tech Mahindra, Maruti, NTPC and Bajaj Auto were among the gainers.

Analysts commented that RBI’s policy meeting outcome was broadly on expected line with a continued focus to support economic recovery through soft monetary policy. Further, weak cues from Asian markets also weighed on sentiments. Meanwhile, international oil benchmark Brent crude advanced 0.56  percent to $ 71.69 per barrel.

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