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Published on 5/12/2018 4:59:03 PM | Source: Reuters

Nifty, Sensex at 1-week closing low; RBI keeps rates on hold

Posted in Stock Market| #Sensex #Stock Market #NSE #BSE #Nifty

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Indian shares hit a one-week closing low on Wednesday after the country's central bank left interest rates unchanged, while resurgent trade worries dented global sentiment.

The benchmark BSE Sensex closed 0.69 percent weaker at 35,884.41, while the broader Nifty ended 0.8 percent lower at 10,782.9.

The Reserve Bank of India (RBI) kept interest rates unchanged, in a decision that was widely expected as inflation has eased significantly, while it took steps to persuade banks to lend more in order to support an economy that has lost some momentum.

Shares of Sun Pharmaceutical Industries Ltd closed lower for a third straight session in the wake of reports of a regulatory probe into the company. The stock ended 6.8 percent lower at its worst closing since April 2013.

(Reporting by Chris Thomas in Bengaluru, Editing by Sherry Jacob-Phillips)