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BSE Sensex falls on RBI dampener

Posted on Jan 16, 10:03PM | IBNS

The BSE Sensex fell 0.85 percent on Wednesday as hopes of an interest rate cut by the Reserve Bank of India (RBI) waned, affecting rate-sensitive stocks.

The 30-share benchmark index ended 169.19 points lower at 19,817.63 with 24 of its components closing in the red.

The broader 50-share National Stock Exchange (NSE) Nifty index ended 0.90 percent or 54.75 points lower at 6,001.85 on Wednesday.

A comment by RBI Governor D Subbarao, saying inflation was still too high, shot down hopes of an interest rate cut later this month.

Meanwhile in the bullion market, gold climbed by Rs 100 to Rs 30,640 per 10 grams while silver shot up by Rs 230 to Rs 59,310 per kg.