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.
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