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Sensex down 100 points, SBI dips 2%
This article was posted on Jun 15, 2011 and is filed under Market News
Markets have slipped further in the noon deals. Analysts say markets are eyeing the Reserve Bank of India’s stand on interest rate going forward. Higher inflation – up at 9.06% in in May versus 8.66% in April – is expected to haunt growth drivers. Economist expect RBI to hike rates by 25 basis points on Thursday.
The Sensex was at 18,200, lower by 108 points and the Nifty had shed 32 points at 5468.
According to Shashank Mehta, derrivative analyst with Nirmal Bang, “Any hike in rates above expectation will lead to accross the board sell off in rate sensitive sectors” For more visit: Business-Standard
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