October 5, 2018 / 10:28 AM / 2 months ago

Indian shares slump as energy stocks drag; RBI keeps rates unchanged

* NSE index down 2.67 pct, BSE index 2.25 pct lower

* Biggest weekly loss since Feb 2016

Oct 5 (Reuters) - Indian shares plunged on Friday, dragged by energy and financial stocks, after the central bank in a surprise decision kept key interest rates unchanged while the government’s announcement on Thursday to cut gasoline and diesel prices hurt oil marketers.

The benchmark BSE index closed down 2.25 percent at 34,376.99, its biggest percentage loss since February 2.

The broader NSE index ended 2.67 percent lower at 10,316.45, its biggest percentage fall since Nov. 11, 2016

For the week, the NSE index fell 5.62 percent, while BSE index shed 5.11 percent, their sharpest drop since the week ending Feb. 12, 2016.

Reliance Industries Ltd closed 6.5 percent lower, contributing to over half the NSE index’s losses, while Housing Development Finance Corp Ltd closed 3.92 percent weaker.

Shares of oil marketing companies such as Hindustan Petroleum Corp Ltd and Bharat Petroleum Corp Ltd closed 23.97 percent and 19.89 percent lower, respectively. Indian Oil Corp Ltd shares fell 15.86 percent.

For midday report see (Reporting By Arnab Paul in Bengaluru; Editing by Vyas Mohan)

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