Mumbai, Apr 17 (IANS): The Indian stock market lost most of its initial gains despite the announcement of fresh liquidity measures by the Reserve Bank of India (RBI).
The BSE Sensex, although trading in the green, is currently down over 650 points from the intra-day high of 31,711.70 points.
At 12.10 p.m., it was trading at 31,055.05, higher by 452.44 points or 1.48 per cent from its previous close of 30,602.61
It had opened at 31,656.68 and has so far touched an intra-day low of 30,960.94 points,
The NSE Nifty50 was trading at 9,107.40, higher by 114.60 points or 1.27 per cent from its previous close.
The Reserve Bank of India (RBI) Governor Shaktikanta Das on Friday announced a slew of fresh liquidity measures.
To mitigate any economic fallout on financial liquidity due to COVID-19 pandemic, the RBI has announced a reduction in reverse repo rate by 25 basis points to 3.75 per cent, among other measures.