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