Sensex drops 162.32 points as RBI rate cut hope fades away
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Mumbai, June 18 (IANS) A benchmark index of Indian equities markets was Monday down 162.32 points around 1.00 p.m. and stood at 16,787.51 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, was down 162.32 points, or 0.96 percent, and stood at 16,787.51 points from its previous close of 16,949.83 points.
The Sensex touched a high of 17,109.95 points and a low of 16,733.04 points in the early session of trade.
The BSE midcap index was down 34.81 points while the smallcap index fell 20.19 points.
The wider 50-scrip S&P CNX Nifty of the National Stock Exchange was 1.11 percent or 57.25 higher at 5,081.80 points.
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