Share market HIGHLIGHTS: Sensex falls over 550 points, Nifty at 11,843 mark, banks slump after rate cut

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Updated: June 6, 2019 4:40:11 PM

The Indian headline indices-Sensex and Nifty fell after the Reserve Bank of India cut repo rate by 25 basis points to 5.75 per cent on Thursday. The central bank has also changed its stance to accommodative from neutral. The reverse repo rate has also been changed to 5.50 per cent.  

Share Market Live, Stock Market Live, Nifty Live, NSE live, BSE live, Live Market Update, Market Today, Indian Share Market Live, Indian Stock Market Live, स्टॉक मार्केट, शेयर बाजारSensex, Nifty fell on Thursday after the RBI announced rate cut

The Indian headline indices-Sensex and Nifty fell after the Reserve Bank of India cut repo rate by 25 basis points to 5.75 per cent on Thursday. The central bank has also changed its stance to accommodative from neutral. The reverse repo rate has also been changed to 5.50 per cent.  

While the Sensex fell over 550 points to end at 39,529.72 level, Nifty settled down at 11,843.75. 

Nifty Bank shares fell more than 2 per cent after the RBI policy announcement. Nifty PSU Banks feel sharply around 5 per cent post interest cut announcement. Today, on BSE, the State Bank of India or SBI shares settled 5 per cent down at Rs 337.05 per share, PNB closed at Rs 79.45 a share, 3.5 per cent from the previous close. Auto shares were also under pressure and most of the auto stocks ended in red except Hero MotoCorp which gained during the later session and ended marginally up at Rs 2,780.95, higher by 1 per cent form the previous close.

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