December 7, 2016 / 10:00 AM / 10 months ago

Sensex, Nifty end lower after RBI keeps rates unchanged

A man walks out of the Bombay Stock Exchange (BSE) building in Mumbai, June 20, 2016. REUTERS/Danish Siddiqui/Files

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 Nifty fell as much as 0.81 percent, before ending 0.50 percent lower at 8,102.05. The Sensex 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.

Reporting by Darshana Sankararaman in Bengaluru; Editing by Vyas Mohan

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