Sensex tumbles 138 pts as RBI hikes repo rate by 0.25%

The benchmark BSE Sensex today tumbled over 138 points in late morning trade on

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funds selling in blue-chip stocks led by the banking sector after the RBI hiked repo rate by 0.25 per cent in its monetary policy review.

After a positive opening, the Sensex fell by 138.90 points, or 0.67 per cent, to 20,568.55 at 1110 hours soon after the Reserve Bank announced its third quarter policy review.

The RBI kept cash reserve ratio unchanged at 4 per cent.

The Sensex had lost over 666 points in the last two trading sessions.

Similarly, the wide-based National Stock Exchange index Nifty fell by 37.75 points, or 0.62 per cent, to 6,098.10.

The banking sector index lost the most, falling 1.63 per cent to 11,860.99, followed by FMCG index by 1.02 per cent to 6,444.40 points.

Markets @ 09.00 AM (PTI)

The benchmark BSE Sensex today recovered over 53 points in early trade after two sessions of losses on emergence of buying by funds and retail investors ahead of the RBI's policy review.

The 30-share index, which had lost over 666 points in the previous two sessions, recovered by 53.76 points, or 0.25 per cent, to 20,761.21, with stocks of consumer durables, capital goods, power, realty and metal sectors leading the recovery.

Similarly, the wide-based National Stock Exchange index Nifty moved up by 11.05 points, or 0.18 per cent, to 6,146.90.

Brokers said emergence of buying by funds at prevailing levels ahead of the RBI's policy review to be announced later in the day and a firming trend in the Asian region mainly influenced the trading sentiment.

In the Asian region, Japan's Nikkei rose by 0.10 per cent, while Hong Kong's Hang Seng index gained 0.16 per cent in early trade.

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