RBI rate cut fails to boost market, Sensex falls to trade in red

Indian stock markets erased all their initial gains on Friday afternoon, with the BSE Sensex trading over 250 points lower, although the Reserve Bank of India (RBI) announced an emergency rate cut of 75 basis points.

The 30-stock Sensex tumbled after gaining over 1,100 during the initial trade.

The RBI Governor’s grave concern over the global economy and a likely slowdown in India appeared to have dampened the initial euphoria in the market.

Read More: https://www.bhaskarlive.in/rbi-rate-cut-fails-to-boost-market-sensex-falls-to-trade-in-red-ld/