The Indian market extended losses to end lower on Thursday, dragged mainly by banking and financial stocks after the Reserve Bank of India (RBI) cut repo rate by 25 basis points for the third time in a row. The indices posted the biggest one-day fall in 2019.

Share Market Live

NSE

PSU banks were under pressure post the RBI policy announcement and amid worries of exposure in the DHFL crisis.

The street was expecting more concrete measures to boost liquidity in the system, resulting in sharp sell-off after the RBI policy decision.

Here are the highlights of today's session:

Frontline indices:

The 30-share benchmark BSE Sensex and the broader NSE Nifty50 posted the biggest one-day fall in 2019.

The Nifty50 ended 1.5 percent or 178 points lower at 11843.75, while the Sensex ended at 39529.72, down 1.4 percent or 554 points.

Broader and sectoral indexes:

The Nifty Midcap index was down by 300 points to post the biggest one-day fall in a month.

Nifty Bank closed 732 points lower, posting the biggest one-day fall in 16 months.

Nifty PSU Bank fell the most among sectoral indices, posting its biggest one-day fall in 9 months.

All NSE sectoral indices closed in the red.

All Nifty Bank’s stocks ended with cuts after 25 bps repo rate cut by RBI.

Stock trends:

Financials contributed 50 percent to Nifty’s fall; HDFC, HDFC Bank and IndusInd Bank were among top losers.

Dewan Housing Finance Ltd slipped to lowest levels in five-years after rating agencies downgraded the stock after the mortgage lender missed its interest payment deadline on Tuesday. The contagion effect was seen across the financials and in housing finance firms.

State-owned gas behemoth, GAIL ended as the top Nifty loser after PNG tariff hike came below expectations.

Two-wheeler stocks ended higher in a weak trading session; Hero Moto was the top gainer.

The overall market breadth was negative as three stocks declined on the NSE for every one that rose.