Editor's Take | #RBI delivers a dovish cut; gives markets hope for a deeper rate cut cycle @latha_venkatesh https://t.co/KizWBzEF3v
Most sectoral indices saw weak trading. PSU Bank dropped 2.52%. IT saw a decline of 2.19%. Pharma fell 1.97%. Realty declined by 1.9%.
TOP LOSERS Wipro (-4.23%) SBI (-3.40%) Tech Mahindra (-3.31%) L&T (-3.13%) Trent (-2.97%)
On April 9, benchmark equity indices in India, including the Sensex and Nifty, experienced notable declines amid rising trade tensions and a recent interest rate cut by the Reserve Bank of India (RBI). The Sensex fell by 379.93 points to close at 73,847.15, while the Nifty declined by 136.70 points, ending at 22,399.15. Despite the RBI's decision to cut the key repo rate by 25 basis points to 6% and shift its policy stance to 'accommodative', market sentiment remained weak, with investors weighing growth concerns against inflation risks. The Nifty IT index was particularly hard hit, dropping over 2%, and the Nifty Bank plunged approximately 1,947.3 points to 49,555.40. Notable losers included Wipro, which fell by 4.23%, and SBI, down 3.40%. The broader market also faced pressure, with Nifty Midcap and Smallcap indices declining by 0.5% and 0.9%, respectively.
