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Sensex falls from record-high level, loses over 250 points; banks, metals drag

At 11.15 am,the BSE Sensex was trading 214.59 points or 0.57% lower at 37,307.03.

The Bombay Stock Exchange (BSE) building is pictured next to a police van in Mumbai.

Equity benchmark BSE Sensex gave up the record-highs it scaled on Wednesday to open over 100 points lower on Thursday.

At 11.15 am,the BSE Sensex was trading 214.59 points or 0.57% lower at 37,307.03.

On Wednesday, markets had closed at record-high levels, gaining over a 100 points. The Reserve Bank of India on Wednesday announced its decision to hike its key lending rate, or repo rate, by 25 basis points citing increasing inflationary pressures.

This was the central bank’s monetary policy committee’s second consecutive rate hike decision, following the 25 bps rate hike in its June policy meet.

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