Sensex slumps 286 points as RBI cuts growth forecast; rate-sensitive stocks tank

RBI reduced its growth projection for the Indian economy to 6.9 per cent for the current financial year.

Sensex, Nifty turn volatile after RBI cuts repo rate

RBI reduced the benchmark lending rate by 35 basis points to 5.40 per cent amid concerns over slowdown in economy.

Nifty too recovered from its five-month low to settle around 86 points higher ahead of the RBI's policy outcome.

The company's scrip tumbled 10.08 per cent to close at Rs 41.95 on the BSE.

After cracking over 700 points in day trade, Sensex pared losses to close at 36,699.84, still down by 418.38 points.

Most investors preferred to stay on the sidelines ahead of the US Federal Reserve's meeting, traders said.

The 50-share NSE Nifty too dropped 103.80 points to settle at 11,085.40.

Similarly, the NSE gauge Nifty slipped by 95 point.

Benchmark indices managed to snap their six-session losing streak -- the longest since early-May -- on Friday.

After a choppy session, the 30-share Sensex ended 51.81 points or 0.14 per cent higher at 37,882.79.