BSE, NSE respond negatively after RBI cuts repo rate by 25 bps
Mumbai: The markets tumbled after RBI cut down repo rate by 25 bps to 5.14% on Friday.
The sensex traded 0.87% or 331 points lower at 37,776 and the Nifty touched 11,228 losing 86 points or 0.76%.
Kotak Mahindra registered maximum loss in the afternoon trade, shedding 3.3% to touch Rs 1,562 on the NSE.
Out of the 11 sector gauges compiled by NSE, eight slumped with Nifty Bank index falling more than 2%.
However, Nifty IT index gained by 0.68%.
As many as 1,017 shares were falling while 701 were gaining on the NSE.
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
