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    Closing Bell: Sensex ends lower, Nifty holds 12,000 as RBI keeps repo rate unchanged; banks, autos fall

    Closing Bell: Sensex ends lower, Nifty holds 12,000 as RBI keeps repo rate unchanged; banks, autos fall

    Closing Bell: Sensex ends lower, Nifty holds 12,000 as RBI keeps repo rate unchanged; banks, autos fall
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    By CNBC-TV18  IST (Updated)

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    Indian shares pared early gains to end in red on Thursday after the RBI kept its policy rate unchanged, surprising investors who were expecting at least a 25 basis-point cut. The Sensex ended 71 points lower at 40,779, while the Nifty50 index ended 25 points lower at 12,018.

    Indian shares pared early gains to end in red on Thursday after the RBI kept its policy rate unchanged, surprising investors who were expecting at least a 25 basis-point cut. Selling was seen in banking, metals and auto stocks during the day.
    The Sensex ended 71 points lower at 40,779, while the Nifty50 index ended 25 points lower at 12,018. The Nifty had risen 7.7 percent and the Sensex has gained 8.43 percent since the last rate cut in October, mainly due to measures such as reducing the corporate tax rate and hopes of more stimulus.
    The Reserve Bank of India (RBI) left its key repo rate unchanged at 5.15 percent and said it would continue with an accommodative stance after its policy meeting. The RBI slashed the GDP growth projection for the financial year 2019-20 to 5 percent from the earlier forecast of 6.1 percent. However, it raised its CPI forecast for the second half of FY20 to 5.1-4.7 percent from 3.5-3.7 percent.
    Shares of rate-sensitive sectors such as banking, automobiles and real estate were mixed during the day. While banking and auto sectors witnessed major selling, the realty index rose around 0.2 percent.
    Nifty PSU Bank fell over 1.8 percent, Nifty Bank, Nifty Private Bank were down 0.8 percent each. Nifty Auto also declined 0.7 percent for the day.
    Among other sectors, the Nifty Metal lost 2.3 percent While Nifty Pharma was down 0.9 percent. Meanwhile. Nifty Media rose over 3 percent and Nifty IT added 1.3 percent for the day. Nifty FMCG also gained 0.2 percent for the day.
    Among stocks, Zee, TCS, L&T, ITC, and Britannia were the top gainers on the Nifty50, while JSW Steel, Bharti Airtel, Coal India, Tata Steel, and IndusInd Bank led the losses.
    All constituents in the Nifty Bank index ended the day in red. IDFC First Bank, IndusInd Bank, Punjab National Bank, RBL Bank, SBI, Yes Bank, and Axis Bank lost between 1.5-3 percent.
    Shares of Housing and Urban Development Corporation (HUDCO) declined 6 percent after the company reported default in repayment of certain dues. The PSU, in an exchange filing, said that two of its borrowing agencies have defaulted in the repayment of their dues. The filing mentioned that the defaulted amount is Rs 87.46 crore against a principal outstanding of Rs 869.4 crore as on the date of the filing.
    Meanwhile, MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.3 percent on signs the United States and China were on track for a preliminary trade deal.
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