<p>Benchmark Sensex snapped its seven-session record-setting spree to end 85 points lower on Wednesday after the RBI hiked the policy rate on inflation concerns.</p>.<p>The Reserve Bank's Monetary Policy Committee raised the benchmark lending rate by 0.25 per cent for the second time in two months.</p>.<p>The repo rate, at which the central bank lends to other banks, now stands at 6.5 per cent.</p>.<p>The 30-share BSE Sensex, which had rallied to a fresh lifetime high of 37,711.87 in early trade, dived after the RBI announced its policy decision.</p>.<p>It staged a bounce-back in the late afternoon session, but finally closed lower by 84.96 points, or 0.23 per cent, at 37,521.62 points.</p>.<p>The gauge had gained 1,110.21 points in the previous seven record-setting sessions.</p>.<p>The broader 50-issue NSE Nifty too slipped from its record high, shedding 10.30 points or 0.09 per cent to end at 11,346.20. Intra-day, it shuttled between 11,390.55 and 11,313.55.</p>.<p>Interest rate sensitive auto, finance and banking stocks finished with losses.</p>.<p>Meanwhile, foreign portfolio investors (FPIs) bought shares worth a net of Rs 572.21 crore, while domestic institutional investors (DIIs) sold equities to the tune of Rs 290.87 crore yesterday, provisional data showed.</p>
<p>Benchmark Sensex snapped its seven-session record-setting spree to end 85 points lower on Wednesday after the RBI hiked the policy rate on inflation concerns.</p>.<p>The Reserve Bank's Monetary Policy Committee raised the benchmark lending rate by 0.25 per cent for the second time in two months.</p>.<p>The repo rate, at which the central bank lends to other banks, now stands at 6.5 per cent.</p>.<p>The 30-share BSE Sensex, which had rallied to a fresh lifetime high of 37,711.87 in early trade, dived after the RBI announced its policy decision.</p>.<p>It staged a bounce-back in the late afternoon session, but finally closed lower by 84.96 points, or 0.23 per cent, at 37,521.62 points.</p>.<p>The gauge had gained 1,110.21 points in the previous seven record-setting sessions.</p>.<p>The broader 50-issue NSE Nifty too slipped from its record high, shedding 10.30 points or 0.09 per cent to end at 11,346.20. Intra-day, it shuttled between 11,390.55 and 11,313.55.</p>.<p>Interest rate sensitive auto, finance and banking stocks finished with losses.</p>.<p>Meanwhile, foreign portfolio investors (FPIs) bought shares worth a net of Rs 572.21 crore, while domestic institutional investors (DIIs) sold equities to the tune of Rs 290.87 crore yesterday, provisional data showed.</p>