Sensex slips over 190 points, Nifty comes below 11,600

New Delhi: On a choppy trade, markets ended in red with both equity indices closing over 0.40 percent down.

The BSE Sensex fell 192.40 points or 0.49 percent to 38,684.72 while the NSE Nifty dropped 45.95 points or 0.39 percent to 11,598.00.

Sensex turned choppy and slipped 200 points after the RBI announced reduction in repo rate by 25 bps to 6 percent in its first bi-monthly monetary policy of 2019-20.  

The repo rate under the liquidity adjustment facility (LAF) has been reduced by 25 basis points to 6.0 percent from 6.25 percent with immediate effect. Consequently, the reverse repo rate under the LAF stands adjusted to 5.75 percent, and the marginal standing facility (MSF) rate and the Bank Rate to 6.25 percent, RBI said.

Major losers in the Sensex pack werer M&M, Powergrid, L&T, Tata Steel, Infosys, ICICI Bank, Kotak Bank, RIL, Indus Ind Bank, Yes Bank, HCL and TCS, falling by upto 3.17 percent. Meanwhile shares of Tata Motors, Heromotocorp, Airtel, HDFC, Asian Paint and Vedanta rose upto 2.49 percent.