Sensex tumbles 383 points after RBI hikes interest rate

September 20, 2013 04:54 pm | Updated June 02, 2016 01:46 pm IST - Mumbai

NEW DELHI:  BSE Sensex/NSE Nifty. PTI GRAPHICS(PTI9_20_2013_000099B)

NEW DELHI: BSE Sensex/NSE Nifty. PTI GRAPHICS(PTI9_20_2013_000099B)

Stock indices dipped and the rupee weakened against the dollar on Friday as the Reserve Bank of India (RBI) hiked the shortterm indicative rate (repo rate) by 25 basis points (bps) to combat the inflationary pressures in the economy.

The rupee fell to 62.61 a dollar intra-day before closing at 62.23 per dollar compared to its previous close of 61.77 on Thursday.

The yield of benchmark 10-year Government Securities (G-Sec) rose by around 40 basis points (bps) to close at 8.58 per cent following the announcement of the repo rate hike. It closed at 8.19 per cent on Thursday.

The BSE 30-share sensitive index (Sensex) fell by 382.93 points to close at 20263.71.

Except consumer durables, which gained 0.35 per cent, power, which was up by 0.28 per cent, and healthcare, which gained 0.13 per cent, all other sectoral indices ended in the red. Realty lost the most, falling by 6.53 per cent, followed by banks at 4.18 per cent and capital goods by 3.04 per cent.

On the National Stock Exchange (NSE), the 50-share Nifty closed at 6012.10 with a loss of 103.45 points.

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