RBI policy move subdues equity indices

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Mumbai, Aug 1 (IANS) The domestic equity indices traded in the red during the late-afternoon trade session soon after the Reserve Bank of India increased its key lending rates, which was widely expected.

At 2.35 p.m., just minutes after the RBI announced its third monetary policy review decision, the wider NSE Nifty50 traded at 11,345.70 points, lower by 10.80 points or 0.1 per cent from its previous close.

The 30-scrip Sensex which had opened at 37,643.87 points, traded at 37,546.28 points, lower by 60.30 points or 0.16 per cent from its previous close of 37,606.58 points.

The RBI has raised its key benchmark lending rate by 25 basis point to 6.5 per cent in its third monetary policy review of 2018-19.

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