Sensex, Nifty Break 3-Day Winning Run After RBI Announcements


Domestic equity benchmarks S&P BSE Sensex and NSE Nifty 50 snapped a three-day winning streak on Friday dragged by losses in banking and financial services stocks, after the Reserve Bank of India announced (RBI) a surprise reduction in the key lending rate. The Sensex fell more than 450 points during the session, whereas the Nifty dropped below the key 9,000 mark briefly. The RBI also extended the loan moratorium to a total six months, causing a selloff in banking and financial stocks.

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