Stocks, which were swinging between gains and
losses since trade commenced this morning, saw a free fall post release of the
Reserve Bank of India's
interest rate decision a little while ago.
With the central bank's decision to hike repo
rates by 25 basis points to 7.5% triggering a sell-off, particularly in the
banking space, the Sensex
plummeted to 20,087.44 and is currently down with a big loss of 504.14 points
or 2.44% at 20,142.50.
The Nifty is down 168.35 points or 2.75% at 5947.20, slightly
off a low of 5936.90 it touched a little while ago.
Mr Raghuram Rajan, in his first monetary policy review as the governor of
RBI, has cut MSF rate by 75 basis points and hike the repo rate by 25 basis
points. The CRR has been left unchanged.
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Nifty on Friday- The 50 share NSE Nifty was closed 103.45 points or 1.69% down at 6012.10, it was touched a high levels of 6130.95 and touched a low levels of 5932.85. monday 23 september calls FREE STOCK TIPS
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