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Indian benchmark indices decline on Thursday, RBI keeps repo rate unchanged

| | Apr 06, 2017, at 10:46 pm
Mumbai, Apr 6 (IBNS): The market ended Thursday on a low note, the day the Reserve Bank of India (RBI) issued its first Bi-monthly Monetary Policy Statement, 2017-18, with BSE Sensex down 46.90 points at 29927.34 and NSE Nifty was down 13.30 points at 9251.85.

Maintaining status quo as it did the last time, the RBI on Thursday kept the repo rate unchanged at 6.25 per cent.

However, it raised the reverse rate to 6 per cent from 5.75 percent.

"We have unanimously decided to keep the repo rate unchanged and maintain a nutral policy," RBI Governor Urjit Patel said at a press conference.

He said the Cash Reserve Ratio (CRR) has also been kept  unchanged at 4 per cent  and Reverse Repo Rate at 5.75 per cent.

Key stocks that gained on Thursday were BHEL, Tata Steel, Ambuja Cement, Zee Entertaiment, Reliance, Bajaj Auto and GAIL while ITC, Hindalco, ICICI Bank, SBI, Coal India, Idea Cellular and Dr Reddy's Labs declined.

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