Sensex falls 286 points, Nifty slips below 10,900

New Delhi: Markets ended in the red on Wednesday led by losses in banking, metal and auto sector.

The BSE Sensex fell 286.35 points or 0.77 percent to 36,690.50 while the NSE Nifty closed 92.75 points 0.85 percent to 10,855.50.

The six-member Monetary Policy Committee (MPC) headed by RBI Governor Shaktikanta Das on Wednesday announced reduction of repo rates by 35 basis points to 5.40 percent in its third bi-monthly monetary policy of 2019-20.

The repo rate under the liquidity adjustment facility (LAF) has been reduced by 0.35 basis points to 5.40 percent from 5.75 percent with immediate effect. Consequently, the reverse repo rate under the LAF stands adjusted to 5.15 percent, the marginal standing facility (MSF) rate and the Bank Rate to 5.65 percent and the CRR rates remain at 4 percent, RBI said.