The NSE Nifty 50 index closed 0.72% lower at 19,512, while the S&P BSE Sensex fell 0.73% to 65,512. All the 13 major sectoral indices logged losses. High-weightage banks and oil & gas lost over 1% each, while public sector banks shed 3.09%
Market expects one more rate cut as inflation stays benign
Indian economists and bond market experts expect another quarter percentage point cut in policy rates. This follows the Reserve Bank of India’s recent rate reduction