Markets tumble after RBI monetary policy decision

MUMBAI: Equity benchmark indices tanked in late morning trade on Thursday pulled down by bank stocks, after the Reserve Bank of India’s monetary policy decision.

Erasing all its early gains, the 30-share BSE Sensex fell by 746.62 points to 71,405.38. The Nifty declined 220.95 points to 21,709.55.

The Reserve Bank of India on Thursday decided to keep the key policy rate unchanged for the sixth time in a row as it maintains a tight vigil on inflation.