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

File photo. Photograph:( Reuters )

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

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)

Story highlights

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