Markets end flat in a see-saw trade as RBI cuts repo rate by 75 bps

Coal India, Axis Bank, Cipla, NTPC and ITC were among the top gainers, while losers included Hero MotoCorp, Bajaj Finance, IndusInd Bank and GAIL.

Mar 27, 2020 10:03 IST India Infoline News Service

Equity benchmark indices turned volatile after RBI announced a repo rate cut of 75 basis points. Investors also awaited for India's Foreign exchange reserve (March) data to be released today. The Sensex closed 131 points lower at 29,816, however, the Nifty50 ended higher at 8,674, up by 33 points.

Coal India, Axis Bank, Cipla, NTPC and ITC were among the top gainers, while losers included Hero MotoCorp, Bajaj Finance, IndusInd Bank and GAIL.

The most active stocks on NSE were Axis Bank, HDFC Bank, ICICI Bank and SBI.

Dow Jones futures turned red and traded 0.33% lower at 22,275, as the US has surpassed Italy in terms of the total Coronavirus cases and is poised to overtake China as well. European indices are trading in red territory on Friday.

Globally, there are over 5.3 lakh confirmed cases and 24,081 deaths from the coronavirus outbreak. Of these, over 1.48 lakh have recovered globally. The number of infected cases in India has increased to 727, with 45 recovered cases. The death toll from coronavirus in India has risen to 16.

Meanwhile, gold fell as investors booked profits, but was set for its best week since December 2008 as record-high U.S. jobless claims due to the coronavirus fuelled hopes for more stimulus to stem the economic damage caused by the pandemic.

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