Sensex closes 244 points down as RBI rate cut hopes fade

By Indo Asian News Service | IANS India Private Limited – Mon 18 Jun, 2012

Mumbai, June 18 (IANS) A benchmark index of Indian equities markets Monday closed the day's trade down 244 points at 16,705.83 points, as hopes of a rate-cut by the Reserve Bank of India (RBI) in its mid-quarter review of monetary policy 2012-13 faded.

The interest rate sensitive stocks of autos, banks and realty were worst hit.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 17,039.54 points, closed down 244 points, or 1.44 percent, and stood at 16,705.83 points from its previous close of 16,949.83 points.

The Sensex touched a high of 17,109.95 points and a low of 16,636.09 points in the intra-day trade.

The BSE midcap index was down 63.14 points while the smallcap index fell 44.35 points.

The wider 50-scrip S&P CNX Nifty of the National Stock Exchange was 1.46 percent or 74.80 lower at 5,064.25 points.

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