Nifty Ends Below 10,900, Sensex Down 286 Points After RBI Rate Cut

About 945 stocks fell and 819 shares advanced on the National Stock Exchange.

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(Photo Courtesy: AP)

The Indian equity benchmarks ended lower on Wednesday, 7 August, after the Reserve Bank of India lowered the benchmark rate by 35 basis points, reported BloombergQuint.

The S&P BSE Sensex ended 0.77 percent lower at 36,690.50 and the NSE Nifty 50 ended at 10,855.50, down 0.85 percent. The broader market index represented by the NSE Nifty 500 Index ended 0.72 percent lower.

The market breadth was tilted in favour of sellers. About 945 stocks fell and 819 shares advanced on National Stock Exchange.

Eight out of 11 sectoral gauges compiled by NSE fell, led by the NSE Nifty PSU Bank Index’s 3.36 percent decline. On the flip side, the NSE Nifty Media Index was the top sectoral gainer, up 1.89 percent.

Majors losers of the Nifty were Indiabulls Housing, M&M, Tata Steel, Tata Motors and BPCL, while the gainers were Zee Entertainment, Cipla, HUL, Yes Bank and Hero Motocorp, according to Moneycontrol.

(With inputs from BloombergQuint and Moneycontrol)