Taking Stock: RBI’s ‘temporary pause’ hits D-St; Nifty holds 12k

Indian market witnessed pared gains and slipped in red after the Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) decided to maintain a status-quo stance on rates as against a 25 bps rate cut which was widely expected.

It kept key policy rates unchanged at 5.15 percent, and the reverse repo rate unchanged at 4.9 percent.