Epic Research Update : Sensex falls for 3rd day, RBI ups repo rate

The 30-share BSE benchmark fell as much as 153 points intraday before recovering to close with 23.94 points loss at 20,683.51. This was in addition to 666-point fall in previous two sessions following global weakness on account of steep fall in emerging market currencies.

The 50-share Nifty declined 9.60 points to 6,126.25 after hitting an intraday low of 6,085.95.

Reserve Bank of India in its third quarter monetary policy review hiked repo rate, the rate at which banks borrow money from RBI, by 25 basis points to 8 percent. Accordingly, reverse repo rate, at which RBI borrows money from banks, increased by 25 basis points.

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