Share Market Highlights: Sensex, Nifty end in deep red after mild RBI rate cut, GDP forecast disappoint

Sensex, Nifty50, NSE, BSE Metal Index, FPI, BSE Telecom, corporate tax rate

Share Market highlights: Indian stock markets extended decline on Thursday after a mild RBI repo rate cut of just 25 bps disapointed investors. The Sensex closed 434 points down at 37,673, while the Nifty closed below the 11,200-mark. The street was expecting the RBI Monetary Policy Committee, led by Governor Shaktikanta Das to cut key interest rates by as much as 40 basis points, in an effort to supplement the government’s fiscal measures to revive a sagging economy. Meanwhile, quick action in Punjab and Maharashtra Cooperative bank case may have given some relief to depositors and other stakeholders. The RBI yesterday increased the withdrawal limit for depositors to Rs 25,000, from the previous Rs 10,000. This was the second such relaxation by RBI, which had earlier limited withdrawals from PMC bank at Rs 1,000, leaving many depositors in anguish. Investors today have an opportunity to invest in blue-chip PSU firms via Bharat-22 ETF, which opened for retail investors. This follows the blockbuster success of the just-concluded IRCTC IPO, which was oversubscribed 111 times, becoming the most subscribed PSU public issue ever. We bring to you highlights.