Advertisement

  • News
  • Columns
  • Interviews
  • BW Communities
  • Events
  • BW TV
  • Subscribe to Print
BW Businessworld

Nifty, Sensex End Lower As RBI's Rate Cut Stokes Growth Worries

The broader NSE Nifty ended 0.85 per cent lower at 10,855.50, while the benchmark BSE Sensex closed down 0.77 per cent at 36,690.50.

Photo Credit :

1543217537_VRG35K_BSE_SD2_870.jpg

Indian shares ended lower on Wednesday, after the country's central bank announced an unconventional 35 basis-point cut in interest rates, signalling concerns over growth outlook for Asia's third-biggest economy.

The six-member monetary policy committee (MPC) of the Reserve Bank of India cut the repo rate to 5.40%, just above a 25 basis-point cut predicted by 80% of the 66 analysts polled by Reuters last month.

The broader NSE Nifty ended 0.85% lower at 10,855.50, while the benchmark BSE Sensex closed down 0.77% at 36,690.50.

The public sector bank sector was the worst performer for the session, with its index closing down 3.4%, while the metals index ended 2.4% lower.

Indiabulls Housing Finance ended 13.4% in the red, while Zee Entertainment closed 2.9% higher.

(Reuters)


Tags assigned to this article:
nifty sensex bse nse reserve bank of india
sentifi.com

Top themes and market attention on: