Sensex falls nearly 300 points, Nifty ended at 10,855

WION Web Team New Delhi Aug 07, 2019, 04.30 PM(IST)

File photo. Photograph:( Reuters )

Story highlights

The Sensex was down 286.35 points at 36,690.50, while Nifty was down 92.80 points at 10,855.50.

The domestic stock market indices ended lower today even as the Reserve Bank of India announced a bigger-than-expected 35-bps rate cut. 

The six-member monetary policy committee (MPC) of the Reserve Bank of India cut the repo rate to 5.40%, just above a 25 basis-point cut predicted by 80% of the 66 analysts polled by Reuters last month.

The broader NSE Nifty ended 0.85% lower at 10,855.50, while the benchmark BSE Sensex closed 0.77% and 286.35 points down at 36,690.50.

The public sector bank sector was the worst performer for the session, with its index closing down 3.4%, while the metals index ended 2.4% lower.

Indiabulls Housing Finance ended 13.4% in the red, while Zee Entertainment closed 2.9% higher.

(With inputs from Reuters)