Indian Markets Close Flat as RBI Maintains Repo Rate and Cuts CRR

Indian benchmark indices closed slightly lower on December 6, with the Nifty settling below 24,700 after a volatile trading session. The Sensex ended at 81,709.12, down 0.07 percent or 56.74 points, while the Nifty finished at 24,677.80, down 0.12 percent or 30.60 points.

The Reserve Bank of India's Monetary Policy Committee kept the benchmark repo rate unchanged at 6.5 percent for the 11th consecutive meeting. However, in an effort to increase liquidity in the banking system, the RBI Governor announced a phased reduction in the Cash Reserve Ratio (CRR) to 4 percent, with a 50 basis points cut implemented in two stages of 25 basis points each. This move is expected to benefit the banking sector, particularly PSU banks.

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