Markets on falling streak; Nifty tests 8500 level

The market continues to be on a falling streak since morning as the Sensex is down 261.99 points or 0.9 per cent at 27925.07. The Nifty is down 71.00 points or 0.8 per cent at 8472.05 testing the 8500 level.In the much awaited policy review by the Reserve Bank of India, the central bank kept key rates unchanged, as widely expected by most of the experts. The repo rate stands steady at 7.25 per cent and accordingly, reverse repo rate is 6.25 per cent.The RBI also said government economic reforms and the timing of any increase in US interest rates would be key factors that will determine whether the central bank cuts rates for a fourth time this year.