Indices plunge post RBI policy decision; Sensex down nearly 800 points
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Mumbai: The key Indian equity indices crashed by over two per cent on Friday as the Reserve Bank of India (RBI)'s changed policy stance from "neutral" to "caliberated tightening", along with a weak rupee and uncertainty in global trade, dented investors risk-taking appetite.
Index-wise, the Nifty50 of the National Stock Exchange closed at 10,316.45 points, down 282.80 points or 2.67 per cent from its previous close.
On a similar note, the S&P BSE Sensex ended the day's trade deep in the red. It opened at 35,097.99 points and closed at 34,376.99 points, down 792.17 points or 2.25 per cent from its previous close.
It touched an intra-day high of 35,118.54 points and a low of 34,202.22 points.
Lately, a weak rupee and high crude oil prices have plunged the Sensex by over 2,000 points in only three previous trading sessions, while the Nifty50 has shed over 650 points.
"The policy decision was seen as an uncertain one as the markets expected a 25 basis points hike owing to the upcoming events like the Iran sanctions along with the volatile currency market. As the market is always wary of uncertainties, it resulted in a panic sell-off," Astha Jain, Senior Research Analyst Hem Securities told IANS.