Sensex, Nifty Extend Losses After RBI Cuts Key Interest Rate By 0.25%

Domestic equity benchmark (S&P BSE Sensex and NSE Nifty 50) indexes extended losses after Reserve Bank of India (RBI) announced a reduction in repo rate by 25 basis points or 0.25 per cent to 6 per cent. Repo rate is the key interest rate at which the RBI lends short-term funds to commercial banks. According to analysts, some investors had expected RBI to cut repo rate by 50 basis points. The latest policy statement comes after the f...