Share Market LIVE: After much up and down, Sensex gives up gains to end in red; RBI cuts repo rate to 4.4%

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Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic equity market benchmarks Sensex and Nifty ended flat to negative in Friday's volatile session. In the opening deals, the 30-share index index soared over 1,100 points to reclaim 31,000-level and the broader Nifty 50 index went past the crucial 9,000-mark. However, post RBI's emergency repo rate cut announcement indices remained highly volatile. S&P BSE Sensex ended 131 points or 0.44 per cent down at 29,815, while the broader Nifty 50 index settled at 8,660, up 18 points or 0.22 per cent. As many as 16 stocks out of 30 Sensex stocks were finished their trade in red today with Hero MotoCorp down 8 per cent, followed by Bajaj Finance, Bharti Airtel and IndusInd Bank. On the flip side, Axis Bank was the top Sensex gainer, up over 5.5 per cent. ITC, NTPC, M&M and TCS were among the top gainers on Sensex. Most of the sectoral indices settled in a positive territory. Nifty Bank index gained 1.81 per cent led by Bandhan Bank, Federal Bank and Axis Bank. While Nifty Auto index settled 2.42 per cent lower dragged by losses in Hero MotoCorp, Bharat Forge and TVS Motor.

The MPC decided to advance its meeting due on April 3 was decided for March 24, 25, 27 undertook careful evaluation, says RBI governor Shaktikanta Das. RBI Governor says outlook is now heavily contingent upon intensity, spread and duration of pandemic. RBI has cut repo rate by 75 bps to 4.4%. Reverse repo rate reduced by 90 bps to 4%. The RBI governor’s address comes a day after the Union Finance Minister Nirmala Sitharaman announced a Rs 1.7 lakh crore economic relief package to aid the economy amid 21-day nationwide lockdown due to fast-spreading coronavirus.