Markets end near 2-yr lows as RBI flags growth concerns

Key share indices ended near their 2-year lows amid a volatile trading session Friday after the Reserve Bank of India, in its monetary policy review, highlighted growth concerns.

"While inflation remains on its projected trajectory, downside risks to growth have clearly increased. Further rates hike may not be warranted," the Reserve Bank of India said in it its mid-quarter review of monetary policy.

The 30-share Sensex provisionally ended at 15,485.40 down 351.07 points or 2.2% and the 50-share Nifty ended at 4,646.35 down 100 points or 2.1%.

On November 3, 2009 the Sensex had ended at 15,404.94 and the Nifty had ended at 4,563.90.