Nifty, Sensex record Biggest Fall this year After RBI Rate Cut
The frontline indices continued their declines throughout the day and closed in heavy loss after the banking regulator RBI reduced repo-rate by 25 base points for the 3rd-consecutive time to 5.75-percent from the earlier 6-percent and also changed its policy standpoint to Accommodative from Neutral. Indices registered the biggest single-day fall in 2019, with Sensex cracking 553.82-pts to close at 39,529.72 and the broader Nifty50 was closed lower by 177.90 points to quote at 11,843.75. All sectoral indices ended the day with losses, wherein PSU Banks led the sharp fall with loss 4.90-percent Among Nifty50 stocks, GAIL India comes out as the biggest loser shedding 11.5-percnet. Other losers followed are Indiabulls-HF, IndusInd Bank, YesBank and State Bank of India that lost between 4 to 8 percent. Stocks such as Coal India, Titan, HeroMotoCorp, NTPC and Power Grid were among major Nifty gainers in trade today by ~1 to 3-percent in range. Read the full article
