RBI rate increase drags Sensex Bear 353 points

Good Asian cues raised the Sensex high by 27points at 18898 in the beginning trade and also unexpectedly touched the day’s higher of 18945. The index exchanged in a limited range before RBI’s policy outcome.

Afterwards after the RBI released its policy, the index dropped sharply because the rate rise was steeper-than-anticipated. The Sensex weaker because the session progressed and also hitted the day’s low 18482 in last 30 minutes of exchange. The Sensex beared 353points to close at 18518 and also the Nifty settled at 5575, lower by 105 points.

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