Stocks Fall Despite RBI’s Repo Rate Cut
Equity markets on Wednesday were pulled lower to close on a subdued note on the back of broadly negative European markets and profit booking as the RBI’s decision to reduce key lending rates could not lift investors’ sentiments. On a closing basis, the Nifty50 fell by 33.15 points, or 0.33%, to 10,081.50 points. The Sensex, which opened at 32,641.58 points, closed at 32,476.74 points — down 98.43 points, or 0.30% — from its previous close at 32,575.17 points. The BSE market breadth was bearish with 1,610 declines and 1,042 advances. In the early morning session, the key equity indices opened on a higher note and surged to new intra-day highs. The Nifty scaled a fresh intraday high of 10,137.85 points and the Sensex of 32,686.48 points.