Sensex slips 47 points as RBI holds policy rate

Mumbai: Benchmark Sensex retreated from its record high to end 47 points lower at 29,927.34 today after the Reserve Bank left the key policy rate unchanged.

The 30-share index stayed in the red zone throughout the session, shuttling between 29,954.25 and 29,817.59, before finishing at 29,927.34, down 46.90 points, or 0.16 per cent.

The wider Nifty hit a low of 9,218.85 before recovering partially to settle at 9,261.95, still down 3.20 points or 0.03 per cent. It had touched a high of 9,267.95 and a low of 9,218.85 intra-day.

The Reserve Bank today left the repo rate unchanged at 6.25 per cent. However, it hiked the reverse repo, or the rate it pays lenders, by 0.25 per cent to 6 per cent, thus narrowing the policy corridor.