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Sensex cold to repo rate cut
Tribune News Service

Mumbai, March 5
The Sensex closed below the 8,200-mark ending below November 2005 levels for the first time since the bear market began last year. The benchmark index closed 248 points lower at 8,197 as investors disregarded yesterday's rate cuts by the Reserve Bank of India.

In the broader markets, the Nifty was down 2.6 per cent to close at 2,576. Ranbaxy was today's biggest loser among the Sensex scrips, closing 9 per cent lower amidst concerns of possible strictures from the Australian government.

Frontline stocks like Larsen and Toubro, HDFC Bank, SBI and ICICI Bank also hit their 52-week lows today.

Among sectoral indices, the BSE bankex fell the most closing 4.2 per cent lower following heavy hammering in Axis Bank, Yes Bank, Kotak Mahindra and ICICI Bank, which all lost more than 5 per cent each.

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