Markets in the red as RBI leaves repo rate unchanged

Markets which had firmed ahead of the RBI second quarter monetary policy review erased all gains as investors booked profit at higher levels after the central bank kept repo rate unchanged but reduced the cash reserve ratio by 25 basis points to 4.25%.

At 11:04AM the 30-share Sensex which had touched a high of 18,718 was down 72 points to 18,563 and the 50-share Nifty which had touched a high of 5,690 was down 26 points at 5,639.

In the Sensex pack, L&T, SBI [ Get Quote ], Tata Motors [ Get Quote ], ITC, Reliance [ Get Quote ], ICICI Bank [ Get Quote ], HDFC Bank [ Get Quote ] and HDFC were the top losers.