RBI rate cut fails to cheer market

The Bank Nifty index, a gauge for the performance of banking stocks, fell 0.3%

The lowering of rates by the Reserve Bank of India (RBI) failed to lift the markets, with benchmark indices ending 0.3 per cent lower.
 

 Experts said the market had alrerady priced in a 25 basis points (bps) cut in the policy rate and the central bank maintaining a neutral stance did little to cheer investors. The benchmark Sensex on the BSE closed at 32,476.74, down 98.4 points or 0.3 per cent. On the National Stock Exchange, the Nifty 50 index fell 33.15 points or 0.3 per cent to end at 10,081.5. A day earlier, both indices had closed at all-time