Mumbai, June 25 (IANS): The measures announced by the Reserve Bank of India (RBI) Monday to revive the rupee failed to cheer the market as the benchmark index slipped into the negative soon after the announcement.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which was in the positive till late afternoon, was ruling at 16,928.60 points - 43.91 points or 0.26 percent down from its previous close at 16,972.51 - around 2.45 p.m.

The RBI announced a series of measures, including raising limits for external commercial borrowings and government securities, aimed at reviving the battered currency and the economy.

The Sensex touched a high of 17,131.15 points and low of 16,928.60 points in the intra-day trade.

The IT index was down by 34.56 points and the banking index by 67.34 points.

The wider 50-scrip S&P CNX Nifty of the National Stock Exchange (NSE) too was trading 0.33 percent lower at 5,129 points.

Major Sensex losers included Hindalco Inds, down 2.64 percent at Rs.114.15; Hero MoroCorp, down 1.89 percent at Rs.2045; ONGC, down 1.65 percent at Rs.274.80; Cipla, down 1.64 percent at Rs.308.55; and TCS, down 1.41 percent at Rs.1216.25.

Major Sensex gainers were Maruti Suzuki, up 1.60 percent at Rs.1119; Tata Power, up 0.85 percent at Rs.95.20; Gail India, up 0.70 percent at Rs.343.25; RIL, up 0.68 percent at Rs.715.90; HDFC, up 0.54 percent at Rs.643.10.