RBI rate cut fails to cheer markets, Sensex, Nifty close in red

The Indian stock market ended in the red on Friday following the Reserve Bank of India's (RBI) announcement of a 25 basis points (bps) cut in the repo rate, bringing it down to 6.25 per cent. This marked the first rate reduction in over five years, signalling an effort to boost economic growth amid global uncertainties. 
The BSE Sensex declined by 197.97 points, closing at 77,860.19, while the NSE Nifty lost 43.40 points, ending the session at 23,559.95. Out of the Nifty 50 stocks, 28 advanced while 23 declined.
The market breadth was weak. On the BSE, 1,520 shares rose and 2,400 shares fell. A total of 144 shares were unchanged. The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, tumbled 3.45% to 13.69.
Among the top gainers in the Nifty index were Tata Steel, ITC Hotels, Bharti Airtel, JSW Steel, and Trent, while ITC, SBI, Britannia, Adani Ports, and TCS were among the biggest losers.
The rupee recovered 15 paise from its all-time low closing level to 87.44 (provisional) against the U.S. dollar on Friday after the Reserve Bank of India reduced repo rate by 25 basis points in line with street expectations.