RBI Rate Cut Fails to Cheer Markets

The Indian stock market ended in the red on Friday following the Reserve Bank of India's (RBI) announcement of a 25 basis points (bps) cut in the repo rate, bringing it down to 6.25 per cent.

- TDG NETWORK

This marked the first rate reduction in over five years, signalling an effort to boost economic growth amid global uncertainties.

The BSE Sensex declined by 197.97 points, closing at 77,860.19, while the NSE Nifty lost 43.40 points, ending the session at 23,559.95. Out of the Nifty 50 stocks, 28 advanced while 23 declined.

Among the top gainers in the Nifty index were Tata Steel, ITC Hotels, Bharti Airtel, JSW Steel, and Trent, while ITC, SBI, Britannia, Adani Ports, and TCS were among the biggest losers.