Sensex crashes 792 points to close below 35,000 mark; Nifty tanks 282 points
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At one point, the Sensex had fallen over 900 points while going down 300 points in the morning session
The BSE Sensex fell 792.17 points today to close below the 35,000 mark and the NSE Nifty went down 282.80 points to close at 10,316.50 after the Reserve Bank of India(RBI) in a surprise move kept key rates unchanged.
At one point, the Sensex had fallen over 900 points while going down 300 points in the morning session extending its losing streak for the third straight day on Friday.
In the end, the Sensex closed at 34,376.99 down 2.25 per cent and the Nifty fell 282.80 points or 2.67 per cent to close at 10,316.50.
Banking stocks HDFC, Yes Bank and ICICI Bank crashed with Reliance Industries falling over six per cent. Finance companies also experienced huge falls with Bajaj Finance, Indiabulls Housing Finance and DHFL going down over nine per cent.
RBI's monetary policy also affected the Rupee with the Indian currency falling below the 74-level against the US dollar for the first time ever.
The domestic currency was quoted 55 paise lower at 74.13 against the dollar soon after the RBI announced its monetary policy.