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RBI rate cut fails to cheer markets; Nifty ends below 10,100 mark

SI Reporter/New Delhi 02 Aug 17 | 03:38 PM

The benchmark indices ended lower after the Reserve Bank of India (RBI) cut repurchase (repo) rate by 25 basis points (bps) to 6%, the lowest since November 2010. The Sensex and Nifty had hit their respective highs of 32,686 and 10,137, respectively at open.    

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The rate cut came after a slump in food prices sent June consumer inflation to a more than five-year low of 1.54%, well below the RBI's 4% target and its projection of 2.0-3.5% for April-September.  

Overseas, European markets ebbed lower as energy shares pulled back after a drop in oil prices, while Asian markets ended mixed after Asian technology stocks hit 17-year peaks. On wall Street, E-Mini futures for the Dow were up 0.2%, suggesting the Dow index may open above 22,000 points later today. 

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Company Price Gain (%)
Sun Pharma.Inds.576.303.91
M & M908.152.78
H D F C1,902.402.54
Axis Bank524.652.22
Bharti Airtel374.601.74


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