The market shattered after the Reserve Bank of India (RBI) credit policy announcement on Friday. The Sensex has broken the 9,000-mark for the first times since June 14, 2006 and the Nifty also slipped below 2,700. Metal, banking, realty, power, oil and auto stocks are under pressure.
The RBI kept all key rates unchanged. The GDP growth forecast has lowered to 7.5-7.8% as against 8 per cent earlier. Inflation target remained unchanged at 7 per cent by March end. The credit growth stood at 29 per cent currently but the RBI has kept target of 20 per cent.
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