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2nd Ld Writethru: Indian stocks fall sharply as central bank takes cautious policy on recovery

Xinhua, June 2, 2015 Adjust font size:

The Indian stocks' BSE benchmark Sensex fell sharply by about 420 points within half an hour of the over-cautious policy cutting of repo rate by the central bank Tuesday.

The Sensex stood at 27,425.10, 423.89 points or 1.52 percent down from the previous close by 11:40 a.m. local time. The Reserve Bank of India took a cautious stance on the economic recovery by cutting policy rates by 25 basis points.

The RBI governor Raghuram Rajan said he has decided to "front- load" the monetary policy cut and wait for data

He said there are mixed indicators of economic recovery while growth was subdued in investment and trading, he added.

The cautious move came amid easing inflation and a 7.3 percent GDP growth in the last quarter. Endi