MARKET LIVE: Sensex, Nifty volatile after RBI rate cut; auto stocks dip

Indian fairness markets pared their early morning gains and slipped into the pink territory even following the RBI’s Financial Plan Commitee (MPC) reduced the policy repo amount by 75 basis points to 4.4 for every cent to help arrest the economic slowdown in the wake of the coronavirus (Covid-19) outbreak. RBI Governor Shaktikanta Das, nevertheless, also mentioned that you can find a soaring probability that significant sections of the world overall economy will slip into economic downturn. Study Extra

The S&P BSE Sensex was down 160 points, or .5 for every cent, at 29,780 levels levels and the Nifty50 index slipped down below the nine,000-mark, to hover about eight,590 levels, down 60 points, or .seven for every cent. Bharti Airtel, HCL Tech, and Hero MotoCorp (all down around 5%) were being the prime laggards in the Sensex pack.

Car shares erased their early morning gains and were being trading up to six for every cent lessen. The Nifty Car index, the prime Nifty sectoral loser, was also down around 1 for every cent. Study Extra

In the broader industry, the S&P BSE MidCap index and SmallCap index were being the two up 2 for every cent every.

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