Mumbai, April 9 || The Indian stock market ended lower on Wednesday due to weak global cues and concerns over US trade tariffs, even though the Reserve Bank of India (RBI) cut the repo rate by 25 basis points.
The RBI’s monetary policy committee (MPC) reduced the repo rate to 6 per cent from 6.25 per cent -- aiming to support economic growth amid global uncertainties. Along with the rate cut, the central bank also changed its policy stance from ‘accommodative’ to ‘neutral.’
However, amid tariff fears, Sensex slipped 379.93 points, or 0.51 per cent, to close at 73,847.15. Similarly, the Nifty ended 136.70 points lower at 22,399.15, down 0.61 per cent.
The top gainers within the Sensex pack included Nestle India which closed with over 3 per cent gain, Hindustan Unilever which rose 2.52 per cent and Titan finished the intra-day session with a 1.66 per cent gain.
The other gainers were Adani Ports, Power Grid, Asian Paints and ITC. In contrast, top losers included State Bank of India (SBI), Tech Mahindra, Tata Steel, and Larsen and Toubro, with some stocks falling as much as 3.4 per cent.