Indian stock market erased all morning gains, with Sensex and Nifty closing in the red after RBI’s hawkish stance with a wait and watch approach offset the impact from falling oil prices and Treasury bond yields.
Sensex declined nearly 117 points to close at 74,243, while Nifty 50 ended the session at 23,367. This came even as India VIX, which measures volatility in the Indian stock market, declined nearly 1% to 15.75.
