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Sensex, Nifty Open Lower Ahead Of RBI Rate Decision

Indian shares opened lower on Wednesday, with weak global cues and caution ahead of the Reserve Bank of India's monetary policy meeting keeping investors nervous.

Asian markets followed their U.S. and European peers lower on growth and Brexit concerns.

The RBI is expected to leave its benchmark rate unchanged at 6.5 percent later today as inflation continues to undershoot the central bank's forecasts.

The benchmark BSE Sensex was down 217 points or 0.60 percent at 35,917 while the broader Nifty index was down 75 points or 0.69 percent at 10,795.

Tata Motors lost 2 percent after S&P Global Ratings downgraded its long-term credit ratings.

Hindalco and Tata Steel fell around 2 percent as industrial metals on the London Metal Exchange fell on concerns over U.S.-China trade tensions and slowing global growth.

Kesoram Industries slumped 6 percent on news it was demerging its tyre business

Banks were broadly lower ahead of the RBI interest-rate decision and amid reports that the central bank will inject 10,000 crore liquidity into the system through open market operations on Thursday.

Yes Bank dropped 1 percent after entering into mutual fund business.

Jet Airways shares advanced 1.5 percent. The airline promised to its employees that it would clear all their dues.

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