Sensex, Nifty Edge Lower After RBI Holds Rates Steady; Banks Worst Hit

The Indian equity benchmarks edged lower on Friday on account of profit booking in banking shares after the Reserve Bank of India held key interest rates steady at record lows as widely expected and maintained it accommodative stance to revive the country's economic growth. The Sensex fell as much as 157 points and Nifty 50 index touched an intraday low of 15,622.35. HDFC Bank, Reliance Industries, ICICI Bank and State Bank of India were among the top drags on the Sensex.

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