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Sensex, Nifty Register Biggest One-Day Fall Of 2019 After RBI Rate Cut

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The benchmark indices in the afternoon trade continued to decline sharply after the RBI as expected reduced repo rate by 25 basis points for the third-consecutive time to 5.75% from the earlier 6% and changed its policy stance to accommodative from neutral.

 Sensex, Nifty Register Biggest One-Day Fall Of 2019 After RBI Rate Cut
 

Indices recorded the biggest one-day fall of the year, with Sensex losing over 553.82 points or 1.38 %t to end at 39,529.72 and Nifty was dragged lower by 177.90 points or 1.48% to close at 11,843.80.

PSU Banks led the sharp fall in trade today with loss of as much as 5%. Other sectoral indices also ended the day with losses.

Among Nifty50 stocks, GAIL emerged as the biggest loser falling 12%. Other losers from the pack include stocks such as Indiabulls Housing, IndusInd Bank, Yes Bank and SBI that lost between 4-8%.

Stocks such as Coal India, Power Grid and HUL however gained in trade today by 1-2%.

Rupee also recovered from its day's low and was last trading higher at 69.285 per US dollar.

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Read more about: sensex stock market repo rate nifty
Story first published: Thursday, June 6, 2019, 16:11 [IST]
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