Markets end lower in a see-saw trade as RBI surprises with status quo

Benchmark indices Sensex and Nifty closed lower in topsy-turvy tre on Thursday after Reserve Bank surprised with its decision to hold key policy rates.

At closing bell, 30-share BSE gauge Sensex was lower by 70.70 points or 0.17 per cent at 40,779.59. index swung between losses and gains after central bank kept rates unchanged.

50-scrip NSE Nifty settled day with a loss of 24.80 points or 0.21 per cent at 12,018.40.

On Sensex chart, Bharti Airtel, Tata Steel, IndusInd Bank, HeroMoto Corp and Tata Motors were among major laggards.

On or hand, TCS, ITC, L&T, Infosys and Tech Mahindra led gains.

Sectorally, metal index fell most, followed by basic materials and energy indices.

Capital goods, IT and tech indices moved higher.

RBI unexpectedly kept benchmark interest rates unchanged on concerns of heline inflation breaching its medium-term target.

After five consecutive cuts in interest rates this year, six-member Monetary Policy Committee (MPC) heed by RBI Goverr Shaktikanta Das unanimously voted to hold key repo rate at 5.15 per cent and reverse repo rate at 4.90 per cent.

Bankers and ecomists h widely expected central bank to cut rates for a sixth time to support a slowing ecomy, whose growth rate slipped furr to a six-year low of 4.5 per cent in September quarter from 7 per cent a year back. PTI MKJ