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Markets reacted negatively to the bi-monthly monetary policy statement of the Reserve Bank of India (RBI) on Wednesday.
RBI decided to keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 6 per cent in its bi-monthly monetary policy on Wednesday.
The Sensex was down by 113.23 points at 34,082.71 and Nifty down by 21.55 points at 10,476.70 points at 3.30 pm on Wednesday.
BSE Bankex was also down by 125.01 points at 29,072.19 points at that time. It had closed at 29,197.20 points on Tuesday.
Federal Bank stock was at Rs 93.50 (up by 0.48 per cent), ICICI Bank at Rs 332 (up by 0.38 per cent), and State Bank of India at Rs 292 (up by 0.17 per cent).
Meanwhile, Axis Bank shares stood at Rs 557.50 (down by 1.17 per cent), HDFC Bank at Rs 1,870 (down by 1.45 per cent) and Punjab National Bank at Rs 156 (down by 2.77 per cent).
The 6.79 per cent benchmark bond maturing in 2027 stood at Rs 94.2550 with its yield at 7.6647 per cent at 3.40 pm on Wednesday. However, the benchmark 6.79 per cent 2027 paper was at Rs 93.74 with yield at 7.75 per cent on Tuesday.
The rupee, which opened at 64.1025 to dollar on Wednesday, was trading at 64.1575 at 3.42 pm. It had closed at 64.24 against the dollar on Tuesday.
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