Markets turn choppy after RBI maintains status quo on policy rate

The benchmark indices continued to trade flat after the Reserve Bank of India (RBI) kept the repurchase (repo) rate unchanged and reduced the Statutory Liquidity Ratio (SLR)  to 20% in its second bi-monthly monetary policy for financial year 2017-18.   

At 2:57 pm, the S&P BSE Sensex was trading at 31,259, up 69 points, while the broader Nifty50 was ruling at 9,655, up 18 points. 

In the broader market, the S&P BSE Midcap and the S&P BSE Smallcap indices added 0.2% and 0.5%, respectively. 

Stocks of the rate-sensitive sectors such as banking, realty and auto extended gains after policy outcome.