Nifty ends lower post RBI rate cut

Benchmark Nifty dropped 33 points today on fag-end profit booking in banking, FMCG, IT and pharma counters after the RBI cut policy rate by 25 basis points in line with market expectations.
Overseas, European stocks declined, weighed down by a fall in mining and bank stocks.
Most Asian markets rose, helped by strong results from Apple. US stocks closed higher yesterday.
The 50-share Nifty opened at a fresh all-time high of 10,136.30 and rose further to 10,137.85 before finishing at 10,081.50, down 33.15 points or 0.33 per cent.
It saw an intra-day movement of about 83.65 points.
Sector-wise, FMCG fell 0.97 per cent, followed by IT (0.69 per cent), Pharma (0.67 per cent), Finance Service (0.42 per cent), PSU Bank (0.37 per cent) and Auto (0.33 per cent).

Energy was the lone gainer by 0.80 per cent.

Major index losers were Indiabulls Housing Finance, Dr Reddy's, Sun Pharma, Tata Motors, Bharti Infratel, ONGC, Infosys and GAIL.
Index gainers included NTPC, Ambuja Cement, Hero MotoCo, ACC, Adani Ports, Lupin, Reliance and Bosch Ltd.
The Nifty midcap index managed to hold ground and ended flat, while the smallcap index declined by 0.36 per cent.
Market breadth, indicating its overall health, was tilted towards the losers. A total of 1,045 scrips declined, 658 advanced while 72 remained unchanged.
Total securities that hit their price bands were 126.
Turnover in the cash segment fell to Rs 24,103.57 crore from Rs 25,776.09 crore yesterday.

A total of 13,245.01 lakh shares changed hands in 7,932,557 trades. The market capitalisation of listed firms on the NSE stood at Rs 1,31,07,793.76 crore.