December 7, 2016 / 10:40 AM / 7 months ago

Indian shares end lower after RBI keeps rates unchanged

1 Min Read

Dec 7 (Reuters) - Indian shares snapped two sessions of gains to close lower on Wednesday after the Reserve Bank of India unexpectedly kept its repo rate unchanged, despite calls for action as an intense cash shortage threatens the economy.

The broader NSE index fell as much as 0.81 percent, before ending 0.50 percent lower at 8,102.05. The benchmark BSE index closed down 0.59 percent at 26,236.87.

Financials were among the biggest losers, before recovering some lost ground after the RBI said it would withdraw the temporary 100 percent hike in the cash reserve ratio announced late last month.

For the midday report, click

Reporting by Darshana Sankararaman in Bengaluru; Editing by Vyas Mohan

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