Indian shares fall after central bank holds rates steady
Benchmark Indian equity indexes declined on Friday after the central bank left its benchmark interest rate unchanged. The move coincided with higher global crude prices and continued foreign investor selling.
thehindubusinessline.comIndian equity benchmarks closed lower on Friday after the central bank kept its key policy rate unchanged. The decision came as Brent crude prices rose above $85 a barrel and foreign investors continued net selling of Indian shares.
The benchmark indexes recorded their third consecutive weekly decline. Market participants cited higher energy costs and sustained outflows as the main factors. Trading volumes remained moderate as investors assessed the central bank's latest policy statement.
Analysts noted that the pause in rate changes had been widely expected. Equity futures pointed to a subdued open on Monday. No immediate policy changes were signaled in the central bank's accompanying statement.
