Sensex, Nifty plunge after RBI maintains key lending rates

Mumbai: The key indices of the domestic equity markets plunged after the Reserve Bank of India (RBI) belied investors' expectations of reduction in key lending rates.

Consequently, the two key indices -- S&P BSE Sensex and NSE Nifty50 -- traded deep in the red, just minutes after the RBI came out with its fifth monetary policy review of 2017-18.

The BSE Sensex dropped by almost 200 points, while the wider NSE Nifty50 fell by over 70 points.

Also Read: Reserve Bank of India maintains key rates, concerned over inflation

Around 2.45 p.m., the wider Nifty50 of the National Stock Exchange (NSE) fell by 71.15 points or 0.70 per cent to trade at 10,047.10 points.

The barometer 30-scrip Sensitive Index (Sensex) of the BSE traded at 32,584.88 points -- down 217.56 points or 0.66 per cent -- from its previous close.

The BSE market was bearish with 1,539 declines and 1,039 advances.

--IANS