The breadth of the market favoured the declines as 402 stocks advanced and 1328 declined while 365 remained unchanged on the NSE. On the BSE, 656 stocks advanced, 1765 declined and 147 remained unchanged.
Benchmark indices have slipped further into the red with Nifty down 148 points and is trading at 11,873 mark while the Sensex plunged 450 points and is trading at 39,627 level.
The Monetary Policy Committee (MPC), on expected lines, slashed the repo rate by 25 bps on June 6 as the growth in the gross domestic product (GDP) moderated to a 21-quarter low in Q4FY19. The Committee also changed the stance to ‘Accommodative’.
RBI finds sharp slowdown in investment activity along with a continuing moderation in private consumption growth a matter of concern.
India VIX is up 1.09 percent at 15.80 levels.
Star Cement, Refex Industries, PFC, Indraprastha Gas and Havells India hit new 52-week high on BSE.
159 stocks have hit 52-week low on BSE including Eros Media, DHFL, Reliance Infra, Jain Irrigation, Ashapura Intimates, Mercator, Central Bank of India and Fortis Healthcare among others.
The breadth of the market favoured the declines as 402 stocks advanced and 1328 declined while 365 remained unchanged on the NSE. On the BSE, 656 stocks advanced, 1765 declined and 147 remained unchanged.Disclosure: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.Get access to India's fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code "GETPRO". Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.