markets

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	A 35-basis point (bps) rate cut by the Reserve Bank of India (RBI) failed to lift the investor sentiment on Wednesday as the benchmark indices ended in the red.</div>
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	The S&P BSE Sensex lost 286 points or 0.77 per cent to settle at 36,690.50, with HUL being the top gainer and M&M the biggest loser. The broader Nifty50 index ended the session at 10,855.50, down 93 points or 0.85 per cent.&nbsp;</div>
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	On the sectoral front, rate-sensitive stocks took the biggest knock with Nifty Bank, Nifty Auto and Nifty Realty slipping 1 per cent to 2 per cent.&nbsp; Volatility gauge, India VIX climbed nearly 5 per cent to 16.88 levels.&nbsp;</div>
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	The broader market fared better than the benchmark indexes. The S&P BSE MidCap index slipped 60 points, or 0.44 per cent, to 13,509, while the S&P BSE SmallCap index ended at 12,482 level, down 14 points or 0.11 per cent.</div>
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	<strong>RBI POLICY</strong></div>
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	The Reserve Bank of India&#39;s (RBI&#39;s) monetary policy committee (MPC) on Wednesday decided to reduce the repo rate by 35 basis points (bps) to 5.40 per cent to help revive the economy. It was the fourth straight rate cut by the central bank in 2019. Consequently, the reverse repo rate now stands at 5.15 per cent. <a href="https://www.business-standard.com/article/markets/why-rbi-slashed-rate-by-35-bps-instead-of-25-or-50-bps-top-highlights-119080700595_1.html" target="_blank"><strong>Click to read key highlights</strong></a></div>
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	<strong>BUZZING STOCKS</strong></div>
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	Shares of Mahindra & Mahindra (M&M) hit an over five-year low on the BSE in intra-day trade on Wednesday after the company reported a 26 per cent decline in its consolidated net profit before exceptional items at Rs 918 crore for June quarter (Q1FY20). The stock eventually settled at Rs 518.45, down nearly 6 per cent. <strong><a href="https://www.business-standard.com/article/pti-stories/m-m-consolidated-pat-falls-52-6-pc-to-rs-894-cr-in-june-quarter-119080700690_1.html" target="_blank">READ MORE</a></strong><br />
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	Shares of Titan Company hit a six-month low of Rs 999, down 4 per cent intra-day on the BSE on Wednesday after it reported 6 per cent year-on-year (YoY) growth in standalone net profit at Rs 371 crore in the June quarter (Q1FY20), due to lower-than-expected revenue. The firm had posted a profit of Rs 349 crore in the year-ago quarter.</div>
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	<strong>GLOBAL CUES</strong></div>
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	A cautious calm returned to stock markets on Wednesday as softer rhetoric from Washington on the US-China trade war soothed investors. MSCI&rsquo;s broadest index of Asia-Pacific shares outside Japan was slightly lower. Also easing the mood were signs that China is intervening to steady the yuan after its recent sharp fall, allaying investor fears of a global currency war.</div>

MARKET WRAP: Sensex dips 286 pts, Nifty ends at 10,856 despite RBI rate cut

Business Standard

MARKET WRAP: Sensex dips 286 pts, Nifty ends at 10,856 despite RBI rate cut | News on Markets - Business Standard

At 8:22 am, SGX Nifty was trading 46 points lower at 10,916.50 levels, indicating a negative start to the day for domestic indices.<br />
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MARKET WRAP: Sensex dips 286 pts, Nifty ends at 10,856 despite RBI rate cut

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